Raymond James & Associates Sells 17,009 Shares of Alight, Inc. (NYSE:ALIT)

Raymond James & Associates lowered its holdings in shares of Alight, Inc. (NYSE:ALIT) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,755 shares of the company’s stock after selling 17,009 shares during the period. Raymond James & Associates owned approximately 0.11% of Alight worth $4,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALIT. Rubric Capital Management LP purchased a new position in shares of Alight during the second quarter valued at approximately $62,162,000. Coronation Fund Managers Ltd. purchased a new stake in shares of Alight in the 1st quarter worth approximately $55,239,000. Dimensional Fund Advisors LP increased its position in Alight by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after buying an additional 3,342,413 shares in the last quarter. Vanguard Group Inc. raised its stake in Alight by 8.1% during the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after buying an additional 2,842,454 shares during the last quarter. Finally, Wolf Hill Capital Management LP boosted its holdings in Alight by 28.4% in the first quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock worth $109,309,000 after acquiring an additional 2,454,870 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Alight in a research note on Monday, September 30th. KeyCorp decreased their target price on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Wedbush cut their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered shares of 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.

Alight Stock Down 1.9 %

ALIT opened at $6.80 on Friday. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -15.45 and a beta of 0.87. The firm has a 50 day moving average price of $7.22 and a 200-day moving average price of $7.51. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. 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 announced its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $787.00 million during the quarter, compared to analyst estimates of $791.22 million. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. Equities research analysts forecast that Alight, Inc. will post 0.42 earnings per share for the current 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.