Creative Planning Boosts Stock Position in Alight, Inc. (NYSE:ALIT)

Creative Planning lifted its position in shares of Alight, Inc. (NYSE:ALIT) by 50.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,805 shares of the company’s stock after purchasing an additional 38,024 shares during the period. Creative Planning’s holdings in Alight were worth $835,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Alight by 20.5% during the first quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock worth $11,161,000 after purchasing an additional 192,405 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Alight by 15.1% in the second quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after buying an additional 76,485 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Alight in the first quarter worth about $4,237,000. Victory Capital Management Inc. lifted its holdings in Alight by 28.3% in the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock worth $45,465,000 after buying an additional 1,358,020 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Alight in the first quarter worth about $2,709,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Price Performance

Shares of ALIT opened at $6.80 on Friday. The company has a market capitalization of $3.72 billion, a P/E ratio of -15.45 and a beta of 0.87. 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 50 day moving average of $7.22 and a 200 day moving average of $7.51. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38.

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 the consensus estimate of $0.08 by $0.01. The company had revenue of $787.00 million during the quarter, compared to the consensus estimate of $791.22 million. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. As a group, equities research analysts anticipate that Alight, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on ALIT shares. KeyCorp lowered their price objective on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Wedbush lowered their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup lowered their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Alight in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.