Hsbc Holdings PLC Has $447,000 Holdings in Alight, Inc. (NYSE:ALIT)

Hsbc Holdings PLC lifted its position in shares of Alight, Inc. (NYSE:ALIT) by 41.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,965 shares of the company’s stock after purchasing an additional 17,958 shares during the quarter. Hsbc Holdings PLC’s holdings in Alight were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the last quarter. Motco bought a new position in Alight during the 1st quarter valued at about $95,000. Duality Advisers LP acquired a new position in Alight in the first quarter valued at about $119,000. Ingalls & Snyder LLC grew its stake in Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Alight during the second quarter worth approximately $105,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Price Performance

Shares of ALIT stock opened at $7.21 on Wednesday. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of -11.63 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. The firm has a fifty day moving average of $7.19 and a 200-day moving average of $7.87.

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

Insider Activity at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $7.11, for a total value of $340,220.61. Following the sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp cut their target price on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Bank of America cut their target price on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Wedbush cut their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Alight in a research note on Monday. Finally, DA Davidson restated a “buy” rating and issued a $12.00 price objective on shares of Alight in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Alight 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.