State Board of Administration of Florida Retirement System Makes New $545,000 Investment in Alight, Inc. (NYSE:ALIT)

State Board of Administration of Florida Retirement System bought a new position in shares of Alight, Inc. (NYSE:ALIT – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 65,210 shares of the company’s stock, valued at approximately $545,000.

Several other institutional investors have also recently made changes to their positions in ALIT. Royal Bank of Canada raised its position in shares of Alight by 36.8% in the third quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock worth $47,000 after buying an additional 1,720 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of Alight by 65.8% in the first quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after buying an additional 1,875 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Alight in the first quarter worth $49,000. Strs Ohio raised its position in shares of Alight by 109.1% in the third quarter. Strs Ohio now owns 6,900 shares of the company’s stock worth $50,000 after buying an additional 3,600 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its position in shares of Alight by 15.9% in the fourth quarter. Horrell Capital Management Inc. now owns 13,770 shares of the company’s stock worth $115,000 after buying an additional 1,885 shares in the last quarter. Hedge funds and other institutional investors own 95.68% of the company’s stock.

Alight Stock Down 2.1 %

Shares of NYSE:ALIT opened at $8.41 on Friday. The stock’s 50-day moving average price is $8.88 and its 200-day moving average price is $8.92. Alight, Inc. has a 12-month low of $6.31 and a 12-month high of $10.19. The stock has a market capitalization of $4.68 billion, a P/E ratio of -32.34, a price-to-earnings-growth ratio of 1.99 and a beta of 0.69. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.56.

Alight (NYSE:ALIT – Get Rating) last announced its quarterly earnings data 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 positive return on equity of 3.07% and a negative net margin of 3.68%. The firm had revenue of $942.00 million for the quarter, compared to analysts’ expectations of $919.38 million. On average, equities analysts anticipate that Alight, Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 57,028 shares in the company, valued at $496,713.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.96% of the company’s stock.

Alight Company 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.