Alight, Inc. (NYSE:ALIT) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in shares of Alight, Inc. (NYSE:ALIT – Get Rating) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 571,602 shares of the company’s stock after selling 9,075 shares during the period. Raymond James & Associates owned 0.10% of Alight worth $4,190,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CSS LLC IL boosted its stake in Alight by 44.5% during the second quarter. CSS LLC IL now owns 141,965 shares of the company’s stock worth $958,000 after buying an additional 43,730 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Alight by 12.6% in the third quarter. Wedge Capital Management L L P NC now owns 2,567,500 shares of the company’s stock valued at $18,820,000 after purchasing an additional 287,947 shares during the period. Clearline Capital LP increased its position in Alight by 101.2% during the second quarter. Clearline Capital LP now owns 668,930 shares of the company’s stock worth $4,515,000 after purchasing an additional 336,493 shares during the last quarter. Zazove Associates LLC purchased a new position in Alight during the third quarter worth about $1,316,000. Finally, Cruiser Capital Advisors LLC acquired a new position in Alight in the 2nd quarter valued at about $296,000. 95.68% of the stock is currently owned by hedge funds and other institutional investors.

Alight Trading Up 0.9 %

ALIT opened at $9.01 on Wednesday. Alight, Inc. has a 52 week low of $6.31 and a 52 week high of $11.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $8.60 and a 200-day simple moving average of $8.09. The firm has a market cap of $5.01 billion, a P/E ratio of 56.32 and a beta of 0.67.

Alight (NYSE:ALIT – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $750.00 million during the quarter, compared to analysts’ expectations of $737.57 million. Alight had a return on equity of 3.65% and a net margin of 2.46%. Alight’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, equities analysts expect that Alight, Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Alight

In other Alight news, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction on Monday, November 14th. The shares were bought at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the acquisition, the director now directly owns 1,193,195 shares in the company, valued at $10,022,838. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were bought at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the acquisition, the director now directly owns 1,193,195 shares in the company, valued at $10,022,838. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of Alight stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $7.46, for a total value of $90,673,845.66. Following the completion of the transaction, the insider now owns 295 shares of the company’s stock, valued at approximately $2,200.70. The disclosure for this sale can be found here. Company insiders own 3.96% of the company’s stock.

Wall Street Analysts Forecast Growth

ALIT has been the subject of a number of recent analyst reports. Wedbush initiated coverage on shares of Alight in a report on Friday, December 9th. They set an “outperform” rating and a $13.00 price target for the company. Credit Suisse Group lifted their target price on Alight to $13.00 in a research report on Tuesday, November 15th. Finally, Needham & Company LLC began coverage on Alight in a report on Tuesday, December 6th. They set a “buy” rating and a $12.00 price target for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.86.

Alight Profile

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Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.