Alight, Inc. (NYSE:ALIT) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in shares of Alight, Inc. (NYSE:ALIT) by 18.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,066,092 shares of the company’s stock after buying an additional 3,342,413 shares during the quarter. Dimensional Fund Advisors LP owned 3.75% of Alight worth $155,463,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in 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 in the last quarter. Motco purchased a new position in shares of Alight during the 1st quarter worth approximately $95,000. Ingalls & Snyder LLC lifted its holdings in shares of Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after buying an additional 2,235 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Alight in the second quarter valued at approximately $105,000. Finally, Duality Advisers LP acquired a new position in Alight during the first quarter worth $119,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insiders Place Their Bets

In related 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 of the company’s stock, valued at $20,482,153.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wedbush reduced their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup reduced their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Tuesday, August 20th. KeyCorp reduced their price target on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, DA Davidson restated a “buy” rating and issued a $12.00 price target on shares of Alight in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Alight currently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

Alight Price Performance

ALIT stock opened at $7.33 on Friday. The stock’s 50 day moving average price is $7.19 and its 200 day moving average price is $7.98. The firm has a market cap of $4.12 billion, a P/E ratio of -11.82, a PEG ratio of 1.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $787.00 million for the quarter, compared to the consensus estimate of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. On average, sell-side analysts expect that Alight, Inc. will post 0.42 earnings per share for the current fiscal year.

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.