Intech Investment Management LLC Acquires Shares of 107,365 Alight, Inc. (NYSE:ALIT)

Intech Investment Management LLC bought a new position in Alight, Inc. (NYSE:ALIT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 107,365 shares of the company’s stock, valued at approximately $795,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rubric Capital Management LP purchased a new position in Alight in the 2nd quarter worth approximately $62,162,000. Dimensional Fund Advisors LP increased its holdings in shares of Alight by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after purchasing an additional 3,342,413 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alight by 100.9% in the second quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock worth $26,385,000 after purchasing an additional 1,795,830 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Alight by 28.3% during the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after purchasing an additional 1,358,020 shares in the last quarter. Finally, Engine Capital Management LP purchased a new stake in shares of Alight during the second quarter valued at $9,594,000. 96.74% of the stock is currently owned by institutional investors.

Alight Price Performance

Shares of Alight stock opened at $8.00 on Friday. The stock’s fifty day moving average is $7.40 and its 200 day moving average is $7.36. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $4.34 billion, a P/E ratio of -16.67 and a beta of 0.87.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. Sell-side analysts anticipate that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research report on Tuesday, August 20th. KeyCorp increased their price objective on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Citigroup cut their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC increased their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Wedbush cut their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Insider Transactions at Alight

In related news, insider Gregory A. George sold 84,929 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the sale, the insider now owns 223,327 shares in the company, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.33% of the company’s stock.

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.