Alight, Inc. (NYSE:ALIT) Stock Position Raised by Xponance Inc.

Xponance Inc. raised its position in shares of Alight, Inc. (NYSE:ALIT) by 19.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,034 shares of the company’s stock after purchasing an additional 4,839 shares during the quarter. Xponance Inc.’s holdings in Alight were worth $222,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALIT. Greenlight Capital Inc. purchased a new stake in Alight in the 4th quarter worth about $78,831,000. Rubric Capital Management LP purchased a new stake in shares of Alight in the second quarter worth approximately $62,162,000. Coronation Fund Managers Ltd. acquired a new stake in shares of Alight during the first quarter worth approximately $55,239,000. Dimensional Fund Advisors LP boosted its holdings in shares of Alight by 18.9% during the second 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. Finally, Vanguard Group Inc. grew its position in Alight by 8.1% during the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after purchasing an additional 2,842,454 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALIT. DA Davidson reissued a “buy” rating and set a $12.00 target price on shares of Alight in a research note on Thursday, June 20th. JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Alight in a report on Monday. Finally, Wedbush reduced their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Alight Trading Up 0.2 %

NYSE:ALIT opened at $7.23 on Thursday. The company’s 50 day moving average is $7.19 and its 200-day moving average is $7.87. 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 12 month low of $6.15 and a 12 month high of $10.38. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -11.65 and a beta of 0.86.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $787.00 million for the quarter, compared to the consensus estimate of $791.22 million. Equities analysts anticipate that Alight, Inc. will post 0.42 EPS 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.