92,148 Shares in Alight, Inc. (NYSE:ALIT) Bought by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. acquired a new stake in shares of Alight, Inc. (NYSE:ALIT) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 92,148 shares of the company’s stock, valued at approximately $680,000.

Other hedge funds also recently made changes to their positions in the company. Engine Capital Management LP bought a new position in Alight in the 2nd quarter worth $9,594,000. Stanley Capital Management LLC boosted its stake in shares of Alight by 8.7% in the second quarter. Stanley Capital Management LLC now owns 2,100,835 shares of the company’s stock worth $15,504,000 after acquiring an additional 168,000 shares during the period. Xponance Inc. raised its stake in Alight by 19.2% during the 2nd quarter. Xponance Inc. now owns 30,034 shares of the company’s stock valued at $222,000 after purchasing an additional 4,839 shares during the period. Rubric Capital Management LP purchased a new position in Alight in the 2nd quarter worth approximately $62,162,000. Finally, Seven Eight Capital LP boosted its stake in Alight by 9.6% in the 2nd quarter. Seven Eight Capital LP now owns 99,488 shares of the company’s stock worth $734,000 after purchasing an additional 8,752 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alight

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALIT shares. DA Davidson reissued a “buy” rating and issued a $12.00 target price on shares of Alight in a report on Thursday, June 20th. KeyCorp cut their price objective on Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Citigroup dropped their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America reduced their price objective on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Finally, Wedbush cut their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Alight has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

Alight Stock Up 0.2 %

Shares of ALIT opened at $7.34 on Tuesday. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The firm has a fifty day moving average price of $7.19 and a 200-day moving average price of $7.95. The firm has a market capitalization of $4.12 billion, a P/E ratio of -11.83, a P/E/G ratio of 1.77 and a beta of 0.86. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. The firm had revenue of $787.00 million during the quarter, compared to analyst estimates of $791.22 million. Equities research analysts expect that Alight, Inc. will post 0.42 earnings per share for the current year.

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.