DME Capital Management LP Sells 453,840 Shares of Alight, Inc. (NYSE:ALIT)

DME Capital Management LP cut its holdings in shares of Alight, Inc. (NYSE:ALIT) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,074,090 shares of the company’s stock after selling 453,840 shares during the period. Alight makes up approximately 4.0% of DME Capital Management LP’s holdings, making the stock its 8th biggest position. DME Capital Management LP owned about 1.97% of Alight worth $81,727,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Alight by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock worth $374,707,000 after purchasing an additional 2,842,454 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 during the period. Janus Henderson Group PLC boosted its stake in Alight by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock worth $187,745,000 after purchasing an additional 331,303 shares during the period. Glenview Capital Management LLC raised its stake in Alight by 11.2% during the 4th quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company’s stock valued at $155,263,000 after purchasing an additional 1,835,481 shares during the period. Finally, Wolf Hill Capital Management LP boosted its position in shares of Alight by 28.4% in the first quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock worth $109,309,000 after buying an additional 2,454,870 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Down 1.2 %

ALIT opened at $7.17 on Thursday. The firm has a market cap of $3.92 billion, a P/E ratio of -11.56 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. The business has a 50 day moving average price of $7.20 and a 200 day moving average price of $7.93. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALIT shares. Wedbush dropped their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC decreased their target price on shares of Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Citigroup dropped their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. DA Davidson reissued a “buy” rating and set a $12.00 price objective on shares of Alight in a research report on Thursday, June 20th. Finally, JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

Insiders Place Their Bets

In related news, COO Katie J. Rooney sold 47,851 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the completion of the transaction, the chief operating officer now 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 Securities & Exchange Commission, which is available through the SEC website. Company 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.