Seven Eight Capital LP Acquires 8,752 Shares of Alight, Inc. (NYSE:ALIT)

Seven Eight Capital LP grew its holdings in Alight, Inc. (NYSE:ALIT) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 99,488 shares of the company’s stock after purchasing an additional 8,752 shares during the period. Seven Eight Capital LP’s holdings in Alight were worth $734,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Alight by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock valued at $300,247,000 after acquiring an additional 547,614 shares during the last quarter. Bullseye Asset Management LLC boosted its stake in shares of Alight by 34.1% in the 4th quarter. Bullseye Asset Management LLC now owns 531,425 shares of the company’s stock valued at $4,533,000 after purchasing an additional 135,000 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Alight by 20.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock valued at $11,161,000 after purchasing an additional 192,405 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Alight by 15.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after purchasing an additional 76,485 shares in the last quarter. Finally, HBK Investments L P lifted its stake in Alight by 33.3% in the 4th quarter. HBK Investments L P now owns 800,000 shares of the company’s stock valued at $6,824,000 after purchasing an additional 200,000 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Bank of America dropped their price target on Alight from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research report on Tuesday, August 20th. Wedbush reduced their price target on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC dropped their price objective on shares of Alight from $11.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, DA Davidson reissued a “buy” rating and set a $12.00 target price on shares of Alight in a report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.75.

Alight Price Performance

Shares of NYSE ALIT opened at $7.32 on Friday. The company has a market capitalization of $4.11 billion, a PE ratio of -11.81, a P/E/G ratio of 1.77 and a beta of 0.86. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. The firm has a fifty day simple moving average of $7.19 and a 200 day simple moving average of $7.97.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $787.00 million during the quarter, compared to analyst estimates of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. On average, sell-side analysts forecast that Alight, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the transaction, the chief operating officer now directly owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.33% of the stock is currently owned by corporate insiders.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.