Oppenheimer & Co. Inc. Invests $74,000 in Alight, Inc. (NYSE:ALIT)

Oppenheimer & Co. Inc. purchased a new position in shares of Alight, Inc. (NYSE:ALIT) during the third quarter, Holdings Channel.com reports. The fund purchased 10,000 shares of the company’s stock, valued at approximately $74,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Alight by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after acquiring an additional 2,842,454 shares during the period. Dimensional Fund Advisors LP increased its position in Alight by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after acquiring an additional 3,342,413 shares during the period. Janus Henderson Group PLC increased its position in Alight by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock valued at $187,745,000 after acquiring an additional 331,303 shares during the period. River Road Asset Management LLC increased its position in Alight by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after acquiring an additional 286,133 shares during the period. Finally, Rubric Capital Management LP acquired a new stake in Alight in the 2nd quarter valued at approximately $62,162,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALIT has been the topic of several analyst reports. Citigroup lowered their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. KeyCorp raised their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Wedbush decreased their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a research note on Tuesday, August 20th. Finally, Needham & Company LLC increased their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Alight Stock Performance

ALIT opened at $7.98 on Friday. The firm has a market cap of $4.33 billion, a PE ratio of -16.63 and a beta of 0.87. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $7.34 and a 200-day simple moving average of $7.35. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company’s revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.07 EPS. As a group, equities analysts predict that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Insider Transactions at Alight

In other news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gregory A. George sold 84,929 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the sale, the insider now directly owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.33% of the company’s stock.

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.