SG Americas Securities LLC Reduces Position in Alight, Inc. (NYSE:ALIT)

Posted by Defense World Staff on May 18th, 2023

SG Americas Securities LLC cut its position in shares of Alight, Inc. (NYSE:ALIT – Get Rating) by 84.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,557 shares of the company’s stock after selling 62,181 shares during the period. SG Americas Securities LLC’s holdings in Alight were worth $97,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in Alight by 616.8% in the 2nd quarter. State Street Corp now owns 5,799,562 shares of the company’s stock valued at $39,147,000 after buying an additional 4,990,518 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Alight by 500.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,138,530 shares of the company’s stock worth $34,685,000 after purchasing an additional 4,282,526 shares during the period. Vanguard Group Inc. lifted its position in shares of Alight by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 23,604,625 shares of the company’s stock worth $234,866,000 after purchasing an additional 2,828,903 shares during the period. Northern Trust Corp lifted its position in shares of Alight by 594.4% in the 2nd quarter. Northern Trust Corp now owns 2,960,149 shares of the company’s stock worth $19,981,000 after purchasing an additional 2,533,863 shares during the period. Finally, Permian Investment Partners LP purchased a new stake in shares of Alight in the 1st quarter worth approximately $21,890,000. 95.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ALIT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Alight in a research report on Monday, March 13th. Credit Suisse Group upped their price target on shares of Alight from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Alight from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, March 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $13.50.

Insider Buying and Selling at Alight

In other Alight news, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $8.71, for a total transaction of $248,780,698.92. Following the transaction, the insider now owns 57,028 shares in the company, valued at approximately $496,713.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.66% of the stock is currently owned by company insiders.

Alight Trading Up 2.3 %

NYSE ALIT opened at $8.52 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.56. The firm has a market cap of $4.75 billion, a PE ratio of -32.77, a price-to-earnings-growth ratio of 1.93 and a beta of 0.69. The company has a 50 day moving average price of $8.89 and a 200 day moving average price of $8.92. Alight, Inc. has a 52 week low of $6.31 and a 52 week high of $10.19.

Alight (NYSE:ALIT – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Alight had a negative net margin of 3.68% and a positive return on equity of 3.07%. The business had revenue of $942.00 million for the quarter, compared to analyst estimates of $919.38 million. As a group, sell-side analysts forecast that Alight, Inc. will post 0.36 EPS for the current fiscal year.

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.