Sei Investments Co. Decreases Holdings in Alight, Inc. (NYSE:ALIT)

Sei Investments Co. trimmed its stake in shares of Alight, Inc. (NYSE:ALIT) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,254 shares of the company’s stock after selling 5,076 shares during the period. Sei Investments Co.’s holdings in Alight were worth $1,825,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Greenlight Capital Inc. purchased a new position in shares of Alight in the fourth quarter worth about $78,831,000. Coronation Fund Managers Ltd. purchased a new position in shares of Alight in the first quarter worth about $55,239,000. Dimensional Fund Advisors LP lifted its stake in shares of Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after buying an additional 3,342,413 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Alight by 8.1% in the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock worth $374,707,000 after buying an additional 2,842,454 shares in the last quarter. Finally, Wolf Hill Capital Management LP lifted its stake in shares of Alight by 28.4% in the first quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock worth $109,309,000 after buying an additional 2,454,870 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.33% of the company’s stock.

Alight Price Performance

Shares of ALIT opened at $7.31 on Friday. Alight, Inc. has a 1-year low of $6.15 and a 1-year high of $10.38. The stock has a market cap of $3.99 billion, a PE ratio of -11.79 and a beta of 0.86. The firm has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $7.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on ALIT shares. Citigroup decreased their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Bank of America reduced their target price on shares of Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. KeyCorp reduced their target price on shares of Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, Wedbush reduced their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.75.

About Alight

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.