New York State Common Retirement Fund Trims Stock Position in Alight, Inc. (NYSE:ALIT)

New York State Common Retirement Fund trimmed its holdings in Alight, Inc. (NYSE:ALIT) by 24.3% in the 4th quarter, HoldingsChannel reports. The fund owned 169,302 shares of the company’s stock after selling 54,266 shares during the quarter. New York State Common Retirement Fund’s holdings in Alight were worth $1,444,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Alight

In other news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following the sale, the insider now owns 2,963,694 shares in the company, valued at $26,525,061.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alight news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following 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 available at this link. Also, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The disclosure for this sale can be found here. Insiders sold 543,029 shares of company stock worth $12,385,217 over the last 90 days. Corporate insiders own 3.66% of the company’s stock.

Alight Price Performance

ALIT stock opened at $7.69 on Friday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -13.98, a PEG ratio of 1.81 and a beta of 0.94. Alight, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $9.22 and a 200 day moving average price of $8.57.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALIT. UBS Group boosted 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. KeyCorp cut their price objective on Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday. Canaccord Genuity 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. Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Alight in a research note on Thursday, April 25th. Finally, Needham & Company LLC reduced their price objective on Alight from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alight currently has an average rating of “Buy” and an average price target of $12.29.

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.