Arizona State Retirement System Raises Stock Holdings in Alight, Inc. (NYSE:ALIT)

Arizona State Retirement System boosted its holdings in shares of Alight, Inc. (NYSE:ALIT) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,340 shares of the company’s stock after acquiring an additional 8,043 shares during the quarter. Arizona State Retirement System’s holdings in Alight were worth $792,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the last quarter. Motco purchased a new stake in Alight in the 1st quarter valued at about $95,000. Ingalls & Snyder LLC grew its stake in Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after acquiring an additional 2,235 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Alight during the second quarter worth approximately $105,000. Finally, Duality Advisers LP bought a new stake in shares of Alight during the first quarter valued at approximately $119,000. Institutional investors own 96.74% of the company’s stock.

Insider Buying and Selling

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. Following the transaction, the chief operating officer now owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ALIT has been the topic of several research reports. Needham & Company LLC reduced their price objective on Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a report on Tuesday, August 20th. KeyCorp dropped their target price on shares of Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Citigroup lowered their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Bank of America dropped their price objective 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. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Alight Stock Performance

Shares of ALIT opened at $7.23 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm has a market cap of $3.95 billion, a PE ratio of -11.66, a P/E/G ratio of 1.74 and a beta of 0.86. Alight, Inc. has a 12 month low of $6.15 and a 12 month high of $10.38. The stock has a fifty day moving average price of $7.17 and a 200-day moving average price of $8.03.

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

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.