State of New Jersey Common Pension Fund D Increases Holdings in Alight, Inc. (NYSE:ALIT)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Alight, Inc. (NYSE:ALIT) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,611 shares of the company’s stock after purchasing an additional 26,856 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Alight were worth $2,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALIT. Ingalls & Snyder LLC boosted its stake in Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after acquiring an additional 2,235 shares during the last quarter. Amalgamated Bank lifted its stake in Alight by 16.2% in the second 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 lifted its stake in Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares during the last quarter. Pekin Hardy Strauss Inc. grew its holdings in Alight by 7.4% during 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. increased its position in Alight by 19.2% in the second quarter. Xponance Inc. now owns 30,034 shares of the company’s stock worth $222,000 after buying an additional 4,839 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Trading Down 2.0 %

Shares of ALIT stock opened at $7.73 on Friday. The business has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $7.40. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The company has a quick ratio of 1.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a market cap of $4.22 billion, a P/E ratio of -16.10 and a beta of 0.87.

Alight (NYSE:ALIT) last issued its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Alight’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts anticipate that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Alight Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Insider Buying and Selling

In related news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 883,323 shares in the company, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on ALIT shares. Needham & Company LLC increased their price target on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup reduced their target price 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. Wedbush cut their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group boosted their target price on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alight currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

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.