Oppenheimer & Co. Inc. Buys New Shares in Alight, Inc. (NYSE:ALIT)

Oppenheimer & Co. Inc. bought a new stake in Alight, Inc. (NYSE:ALIT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $74,000.

Several other institutional investors have also recently added to or reduced their stakes in ALIT. Wedge Capital Management L L P NC increased its stake in Alight by 15.1% during 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 acquiring an additional 76,485 shares during the last quarter. Victory Capital Management Inc. increased its stake in Alight by 28.3% during the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock worth $45,465,000 after acquiring an additional 1,358,020 shares during the last quarter. River Road Asset Management LLC increased its stake in Alight by 2.9% during the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock worth $73,913,000 after acquiring an additional 286,133 shares during the last quarter. Rhumbline Advisers increased its stake in Alight by 13.9% during the second quarter. Rhumbline Advisers now owns 757,020 shares of the company’s stock worth $5,587,000 after acquiring an additional 92,235 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Alight during the first quarter worth about $1,202,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alight

In other Alight news, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the sale, the insider now owns 223,327 shares in the company, valued at $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the sale, the director now owns 883,323 shares in the company, valued at $7,287,414.75. The trade was a 84.99 % decrease in their position. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wedbush dropped their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. 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. Citigroup decreased their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. KeyCorp upped their target price on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC upped their target price on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.95.

Alight Trading Up 1.3 %

Shares of ALIT opened at $7.98 on Friday. The company has a market capitalization of $4.33 billion, a P/E ratio of -16.63 and a beta of 0.87. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50-day moving average price of $7.34 and a 200 day moving average price of $7.35.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. Alight’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. Sell-side analysts forecast that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

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.