UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Alight, Inc. (NYSE:ALIT – Free Report) by 7.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 767,215 shares of the company’s stock after selling 64,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.14% of Alight worth $5,677,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings 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 valued at $155,463,000 after purchasing an additional 3,342,413 shares in the last quarter. Rubric Capital Management LP grew its position in shares of Alight by 38.3% in the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock valued at $86,185,000 after purchasing an additional 3,223,617 shares in the last quarter. River Road Asset Management LLC grew its position in shares of Alight by 2.9% in the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after purchasing an additional 286,133 shares in the last quarter. Kinney Asset Management LLC grew its position in Alight by 2.5% during the third quarter. Kinney Asset Management LLC now owns 6,247,546 shares of the company’s stock worth $46,232,000 after buying an additional 150,000 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position 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 buying an additional 1,358,020 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on ALIT shares. Needham & Company LLC boosted their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a report on Tuesday, August 20th. KeyCorp increased their price target on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price objective on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Citigroup cut their price objective on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.
Insiders Place Their Bets
In other news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the sale, the president now directly owns 852,694 shares of the company’s stock, valued at $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the transaction, the director now owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is currently owned by insiders.
Alight Stock Down 1.9 %
Shares of NYSE ALIT opened at $7.36 on Wednesday. The firm has a 50-day simple moving average of $7.46 and a two-hundred day simple moving average of $7.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38. The company has a market cap of $4.00 billion, a P/E ratio of -15.33 and a beta of 0.91.
Alight (NYSE:ALIT – Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. Alight’s revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. Research analysts anticipate that Alight, Inc. will post 0.47 earnings per share for the current year.
Alight Announces Dividend
The company also recently declared a — dividend, which will be paid on Monday, December 16th. Shareholders 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 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.
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