Fmr LLC Increases Stock Position in Alight, Inc. (NYSE:ALIT)

Fmr LLC raised its position in Alight, Inc. (NYSE:ALIT) by 44.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,995 shares of the company’s stock after buying an additional 3,689 shares during the period. Fmr LLC’s holdings in Alight were worth $89,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Highland Peak Capital LLC purchased a new position in shares of Alight in the 3rd quarter valued at about $5,315,000. Victory Capital Management Inc. increased its position in shares of Alight by 28.3% in the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after buying an additional 1,358,020 shares in the last quarter. River Road Asset Management LLC raised its stake in shares of Alight by 2.9% during the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock worth $73,913,000 after buying an additional 286,133 shares during the period. Rhumbline Advisers raised its stake in shares of Alight by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 757,020 shares of the company’s stock worth $5,587,000 after buying an additional 92,235 shares during the period. Finally, Chicago Capital LLC acquired a new stake in Alight in the 2nd quarter valued at $3,357,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Price Performance

ALIT stock opened at $6.77 on Tuesday. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $3.68 billion, a PE ratio of -14.10 and a beta of 0.92. The business has a 50 day simple moving average of $7.44 and a 200-day simple moving average of $7.30.

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

Alight Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 2nd.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup lowered 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. Finally, KeyCorp boosted their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Alight presently has a consensus rating of “Moderate Buy” and an average target price of $10.83.

Insider Activity

In other news, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gregory A. George sold 84,929 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the transaction, the insider now owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,334,929 shares of company stock valued at $43,895,460 in the last 90 days. Company insiders own 5.33% of the company’s stock.

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.