Alight, Inc. (NYSE:ALIT) Position Increased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Alight, Inc. (NYSE:ALIT) by 159.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,116,884 shares of the company’s stock after acquiring an additional 686,745 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.20% of Alight worth $8,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ALIT. Nisa Investment Advisors LLC increased its position in Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares during the last quarter. Motco bought a new position in Alight during the first quarter valued at about $95,000. Ingalls & Snyder LLC increased its stake in Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after acquiring an additional 2,235 shares during the period. CIBC Asset Management Inc bought a new position in Alight during the second quarter valued at about $105,000. Finally, Duality Advisers LP bought a new position in Alight during the first quarter valued at about $119,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alight

In other news, COO Katie J. Rooney sold 47,851 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were 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 of the company’s stock, valued at approximately $20,482,153.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.33% of the company’s stock.

Alight Price Performance

ALIT opened at $7.33 on Friday. 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 12 month low of $6.15 and a 12 month high of $10.38. The company has a fifty day simple moving average of $7.19 and a 200 day simple moving average of $7.87. The stock has a market cap of $4.00 billion, a P/E ratio of -11.82 and a beta of 0.86.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. KeyCorp lowered their price target on Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Citigroup decreased their price objective on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Bank of America decreased their price objective on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Tuesday, June 25th. DA Davidson reaffirmed a “buy” rating and set a $12.00 price objective on shares of Alight in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Alight currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

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.