Quantbot Technologies LP Sells 45,236 Shares of Alight, Inc. (NYSE:ALIT)

Quantbot Technologies LP reduced its stake in shares of Alight, Inc. (NYSE:ALIT) by 32.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 93,685 shares of the company’s stock after selling 45,236 shares during the period. Quantbot Technologies LP’s holdings in Alight were worth $923,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after purchasing an additional 1,897 shares during the last quarter. Duality Advisers LP bought a new stake in Alight during the 1st quarter worth about $119,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Alight during the 1st quarter worth about $147,000. Saxon Interests Inc. acquired a new position in shares of Alight during the 4th quarter worth about $145,000. Finally, Strs Ohio grew its holdings in shares of Alight by 30.6% in the 4th quarter. Strs Ohio now owns 24,300 shares of the company’s stock valued at $207,000 after acquiring an additional 5,700 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alight

In other news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.33% of the company’s stock.

Alight Price Performance

Shares of Alight stock opened at $7.17 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -11.56, a price-to-earnings-growth ratio of 1.41 and a beta of 0.87. Alight, Inc. has a twelve month low of $6.33 and a twelve month high of $10.38. The company has a 50-day simple moving average of $7.59 and a two-hundred day simple moving average of $8.57.

Alight (NYSE:ALIT) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $816.00 million during the quarter, compared to the consensus estimate of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. Analysts forecast that Alight, Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Alight in a report on Monday, July 1st. DA Davidson reiterated a “buy” rating and set a $12.00 price objective on shares of Alight in a research note on Thursday, June 20th. Canaccord Genuity Group raised their target price on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. UBS Group boosted their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Wedbush cut their price target on Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $11.61.

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.