Raymond James & Associates Lowers Holdings in Alight, Inc. (NYSE:ALIT)

Raymond James & Associates trimmed its position in Alight, Inc. (NYSE:ALIT) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 453,274 shares of the company’s stock after selling 68,323 shares during the quarter. Raymond James & Associates’ holdings in Alight were worth $3,866,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Advisor Group Holdings Inc. lifted its stake in shares of Alight by 65.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after purchasing an additional 1,875 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Alight during the 1st quarter worth $121,000. Natixis Advisors L.P. lifted its stake in shares of Alight by 20.1% during the 1st quarter. Natixis Advisors L.P. now owns 166,182 shares of the company’s stock worth $1,653,000 after purchasing an additional 27,810 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Alight during the 1st quarter worth $129,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Alight during the 1st quarter worth $569,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALIT. UBS Group upped their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Canaccord Genuity Group upped their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Wedbush upped their target price on Alight from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and set a $12.00 target price on shares of Alight in a research report on Friday, January 5th. Finally, Needham & Company LLC upped their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $12.71.

Insider Activity

In other news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the transaction, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the transaction, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katie J. Rooney sold 26,164 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total value of $234,167.80. Following the sale, the insider now directly owns 2,963,694 shares in the company, valued at $26,525,061.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,129 shares of company stock valued at $12,449,117. Company insiders own 3.96% of the company’s stock.

Alight Trading Down 2.0 %

Shares of NYSE:ALIT opened at $9.23 on Friday. The business’s 50-day moving average is $9.32 and its 200 day moving average is $8.29. Alight, Inc. has a 1 year low of $6.33 and a 1 year high of $10.38. The firm has a market capitalization of $5.19 billion, a P/E ratio of -16.77, a P/E/G ratio of 1.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. On average, research analysts predict that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

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.