Alight, Inc. (NYSE:ALIT) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in shares of Alight, Inc. (NYSE:ALIT) by 54.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,547 shares of the company’s stock after buying an additional 4,049 shares during the period. Nisa Investment Advisors LLC’s holdings in Alight were worth $85,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Motco acquired a new stake in Alight during the 1st quarter worth about $95,000. Ingalls & Snyder LLC raised its stake in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after purchasing an additional 2,235 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Alight during the second quarter worth about $105,000. Duality Advisers LP acquired a new stake in shares of Alight during the first quarter worth about $119,000. Finally, Amalgamated Bank boosted its position in Alight by 16.2% in the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after buying an additional 2,289 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ALIT. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Alight in a research report on Monday, September 30th. JPMorgan Chase & Co. downgraded shares of 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. Wedbush cut their price target on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup reduced their price objective on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, KeyCorp lowered their target price on Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

Alight Price Performance

NYSE:ALIT opened at $7.47 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The stock’s 50-day moving average price is $7.21 and its 200-day moving average price is $7.47. The stock has a market capitalization of $4.08 billion, a PE ratio of -16.97 and a beta of 0.87.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $787.00 million for the quarter, compared to analyst estimates of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. As a group, equities analysts expect that Alight, Inc. will post 0.42 EPS for the current fiscal year.

About Alight

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.