Allspring Global Investments Holdings LLC Sells 1,180,416 Shares of Alight, Inc. $ALIT

Allspring Global Investments Holdings LLC lessened its stake in shares of Alight, Inc. (NYSE:ALIT) by 32.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,502,155 shares of the company’s stock after selling 1,180,416 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.46% of Alight worth $7,982,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Rubric Capital Management LP boosted its stake in Alight by 10.8% during the second quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock worth $111,089,000 after buying an additional 1,906,140 shares during the period. State Street Corp lifted its holdings in shares of Alight by 2.0% in the 2nd quarter. State Street Corp now owns 12,115,866 shares of the company’s stock worth $68,576,000 after acquiring an additional 241,965 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Alight by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock worth $58,950,000 after purchasing an additional 135,109 shares during the period. River Road Asset Management LLC boosted its stake in shares of Alight by 1.6% during the 2nd quarter. River Road Asset Management LLC now owns 10,211,903 shares of the company’s stock worth $54,736,000 after purchasing an additional 164,223 shares during the period. Finally, American Century Companies Inc. grew its holdings in Alight by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock valued at $42,777,000 after purchasing an additional 637,142 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wedbush decreased their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. DA Davidson reissued a “buy” rating and set a $6.00 price target on shares of Alight in a research note on Monday, December 8th. Finally, UBS Group dropped their price objective on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alight currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.25.

Insider Buying and Selling at Alight

In other news, Director Richard N. Massey acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average cost of $2.33 per share, with a total value of $233,000.00. Following the completion of the acquisition, the director owned 100,000 shares of the company’s stock, valued at approximately $233,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kausik Rajgopal bought 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average cost of $2.24 per share, with a total value of $89,600.00. Following the acquisition, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 193,116 shares of company stock worth $448,984. 1.93% of the stock is currently owned by insiders.

Alight Price Performance

Shares of ALIT stock opened at $1.89 on Wednesday. The company has a market capitalization of $1.01 billion, a P/E ratio of -0.46 and a beta of 1.08. The company’s 50-day simple moving average is $2.18 and its two-hundred day simple moving average is $3.50. Alight, Inc. has a one year low of $1.82 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The company had revenue of $533.00 million for the quarter, compared to the consensus estimate of $539.43 million. During the same period in the prior year, the firm posted $0.09 EPS. The business’s revenue was down 4.0% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 8.5%. The ex-dividend date was Monday, December 1st. Alight’s dividend payout ratio is currently -3.91%.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.