Stanley Capital Management LLC Acquires 168,000 Shares of Alight, Inc. (NYSE:ALIT)

Stanley Capital Management LLC lifted its holdings in shares of Alight, Inc. (NYSE:ALIT) by 8.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,100,835 shares of the company’s stock after purchasing an additional 168,000 shares during the period. Alight accounts for 3.2% of Stanley Capital Management LLC’s holdings, making the stock its 11th biggest holding. Stanley Capital Management LLC owned about 0.37% of Alight worth $15,504,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its holdings in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares during the period. Motco acquired a new position in shares of Alight in the first quarter worth approximately $95,000. Duality Advisers LP bought a new stake in Alight in the first quarter valued at approximately $119,000. Ingalls & Snyder LLC increased its position in Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after purchasing an additional 2,235 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Alight during the 2nd quarter worth approximately $105,000. Institutional investors own 96.74% of the company’s stock.

Alight Stock Up 0.2 %

ALIT stock opened at $7.34 on Tuesday. The stock has a 50-day simple moving average of $7.19 and a two-hundred day simple moving average of $7.95. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. The firm has a market capitalization of $4.12 billion, a PE ratio of -11.83, a PEG ratio of 1.77 and a beta of 0.86. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55.

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

Wall Street Analysts Forecast Growth

ALIT has been the topic of a number of research analyst reports. Bank of America cut their price target on shares of Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Wedbush decreased their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC dropped their price target on Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. KeyCorp cut their price target on Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, DA Davidson restated a “buy” rating and issued a $12.00 price objective on shares of Alight in a research note on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.

Insider Activity

In related news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $7.11, for a total value of $340,220.61. Following the sale, the chief operating officer now owns 2,880,753 shares in the company, valued at $20,482,153.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.