Bailard Inc. Invests $264,000 in Alight, Inc. (NYSE:ALIT)

Bailard Inc. bought a new stake in Alight, Inc. (NYSE:ALIT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 31,000 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALIT. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Alight in the 3rd quarter valued at about $1,148,000. Natixis Advisors L.P. raised its holdings in Alight by 81.0% in the third quarter. Natixis Advisors L.P. now owns 323,062 shares of the company’s stock valued at $2,290,000 after buying an additional 144,573 shares during the period. Walleye Capital LLC lifted its position in Alight by 229.8% during the third quarter. Walleye Capital LLC now owns 281,509 shares of the company’s stock valued at $1,996,000 after buying an additional 196,160 shares in the last quarter. Tudor Investment Corp Et Al grew its stake in Alight by 387.1% during the third quarter. Tudor Investment Corp Et Al now owns 385,382 shares of the company’s stock worth $2,732,000 after buying an additional 306,257 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Alight in the third quarter worth $52,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO Stephan Scholl sold 428,574 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the sale, the chief executive officer now owns 8,198,199 shares in the company, valued at approximately $80,424,332.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alight news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the completion of the transaction, the insider now owns 2,963,694 shares of the company’s stock, valued at $26,525,061.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the sale, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The disclosure for this sale can be found here. Insiders sold a total of 550,129 shares of company stock valued at $12,449,117 in the last ninety days. Corporate insiders own 3.66% of the company’s stock.

Alight Stock Performance

Shares of ALIT opened at $9.11 on Monday. Alight, Inc. has a one year low of $6.33 and a one year high of $10.38. The stock has a 50-day moving average price of $9.28 and a 200 day moving average price of $8.46. 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 released its earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. On average, equities analysts forecast that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

Alight Company 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.