Atria Investments Inc Grows Stock Position in Alight, Inc. (NYSE:ALIT)

Atria Investments Inc lifted its stake in shares of Alight, Inc. (NYSE:ALIT) by 36.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,144 shares of the company’s stock after buying an additional 8,782 shares during the period. Atria Investments Inc’s holdings in Alight were worth $245,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Ingalls & Snyder LLC raised its holdings 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 purchasing an additional 2,235 shares during the period. Amalgamated Bank lifted its stake in shares of Alight by 16.2% in the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after purchasing an additional 2,289 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after acquiring an additional 2,961 shares during the period. Pekin Hardy Strauss Inc. raised its position in Alight by 7.4% in the second quarter. Pekin Hardy Strauss Inc. now owns 57,750 shares of the company’s stock valued at $426,000 after purchasing an additional 4,000 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Alight by 19.2% in the 2nd quarter. Xponance Inc. now owns 30,034 shares of the company’s stock valued at $222,000 after buying an additional 4,839 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Up 1.3 %

Shares of NYSE ALIT opened at $7.98 on Friday. The business has a 50-day moving average price of $7.34 and a 200 day moving average price of $7.35. The stock has a market cap of $4.33 billion, a PE ratio of -16.63 and a beta of 0.87. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. Equities research analysts forecast that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their target price on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group boosted their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wedbush cut their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a report on Tuesday, August 20th. Finally, KeyCorp raised their price objective on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Insiders Place Their Bets

In related news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the sale, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory A. George sold 84,929 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the transaction, the insider now directly owns 223,327 shares in the company, valued at $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. 5.33% of the stock is owned by insiders.

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.