Algert Global LLC Invests $285,000 in Alight, Inc. (NYSE:ALIT)

Algert Global LLC purchased a new stake in shares of Alight, Inc. (NYSE:ALIT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,581 shares of the company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the last quarter. Motco acquired a new stake in shares of Alight during the 1st quarter worth approximately $95,000. Ingalls & Snyder LLC raised its stake in shares of Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Alight in the second quarter valued at approximately $105,000. Finally, Duality Advisers LP bought a new position in Alight in the first quarter valued at approximately $119,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Up 0.4 %

ALIT stock opened at $7.17 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $3.92 billion, a P/E ratio of -11.56 and a beta of 0.86. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The business has a 50-day moving average of $7.15 and a 200-day moving average of $7.79.

Alight (NYSE:ALIT) last released its quarterly earnings results 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 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 the consensus estimate of $791.22 million. On average, sell-side analysts anticipate that Alight, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America cut their price target on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a report on Tuesday, August 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Alight in a research note on Monday, September 30th. Citigroup reduced their price objective 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. Finally, DA Davidson reaffirmed a “buy” rating and issued a $12.00 target price on shares of Alight in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Alight currently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Alight 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.