Geode Capital Management LLC Has $74.52 Million Stock Holdings in Alight, Inc. (NYSE:ALIT)

Geode Capital Management LLC grew its position in Alight, Inc. (NYSE:ALIT) by 0.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,068,446 shares of the company’s stock after purchasing an additional 77,948 shares during the period. Geode Capital Management LLC’s holdings in Alight were worth $74,521,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALIT. Rubric Capital Management LP bought a new position in shares of Alight in the 2nd quarter valued at about $62,162,000. Dimensional Fund Advisors LP boosted its stake in Alight by 18.9% in the second 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 last quarter. Bank of New York Mellon Corp grew its holdings in Alight by 100.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock worth $26,385,000 after acquiring an additional 1,795,830 shares during the period. Victory Capital Management Inc. raised its position in shares of Alight by 28.3% during the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after acquiring an additional 1,358,020 shares during the last quarter. Finally, Engine Capital Management LP bought a new stake in shares of Alight during the 2nd quarter valued at $9,594,000. Institutional investors own 96.74% of the company’s stock.

Alight Trading Up 1.5 %

NYSE:ALIT opened at $6.86 on Friday. The business’s 50-day simple moving average is $7.44 and its 200-day simple moving average is $7.30. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $3.73 billion, a PE ratio of -14.29 and a beta of 0.92.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Sell-side analysts expect that Alight, Inc. will post 0.47 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 2nd.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALIT. Needham & Company LLC raised their price target on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup reduced their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. KeyCorp boosted their target price on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group increased their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Insider Transactions at Alight

In other news, President Gregory R. Goff sold 250,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the president now directly owns 852,694 shares in the company, valued at $6,821,552. This represents a 22.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gregory A. George sold 84,929 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 223,327 shares in the company, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,334,929 shares of company stock valued at $43,895,460 over the last three months. Company insiders own 5.33% of the company’s stock.

About Alight

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.