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

Atria Investments Inc raised its holdings in Alight, Inc. (NYSE:ALIT) by 36.0% in the third quarter, Holdings Channel.com reports. The fund owned 33,144 shares of the company’s stock after buying an additional 8,782 shares during the quarter. Atria Investments Inc’s holdings in Alight were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Ingalls & Snyder LLC increased 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 purchasing an additional 2,235 shares in the last quarter. Amalgamated Bank grew its position in Alight by 16.2% during the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock worth $121,000 after buying an additional 2,289 shares during the period. Nisa Investment Advisors LLC increased its holdings 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 buying an additional 2,961 shares in the last quarter. Pekin Hardy Strauss Inc. increased its holdings 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 buying an additional 4,000 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Alight by 19.2% during the 2nd quarter. Xponance Inc. now owns 30,034 shares of the company’s stock valued at $222,000 after acquiring an additional 4,839 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. KeyCorp upped their price target on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Citigroup lowered their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Canaccord Genuity Group lifted their price target on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC increased their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and an average target price of $10.95.

Alight Price Performance

Alight stock opened at $7.98 on Friday. The stock has a market capitalization of $4.33 billion, a P/E ratio of -16.63 and a beta of 0.87. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The firm’s 50-day moving average is $7.34 and its two-hundred day moving average is $7.35.

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 firm 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%. Alight’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 earnings per share. Equities analysts predict that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

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

Insider Activity at Alight

In other news, 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 sale, the insider now directly owns 223,327 shares of the company’s stock, valued at $1,697,285.20. The trade was a 27.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $41,250,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 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.