Truist Financial Corp Buys 2,539 Shares of Alight, Inc. (NYSE:ALIT)

Truist Financial Corp increased its stake in Alight, Inc. (NYSE:ALITGet Rating) by 18.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,228 shares of the company’s stock after buying an additional 2,539 shares during the quarter. Truist Financial Corp’s holdings in Alight were worth $161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Zazove Associates LLC bought a new stake in shares of Alight during the first quarter worth $1,786,000. Wedge Capital Management L L P NC lifted its position in shares of Alight by 34.9% during the first quarter. Wedge Capital Management L L P NC now owns 1,929,099 shares of the company’s stock worth $19,195,000 after purchasing an additional 498,624 shares during the last quarter. Levin Capital Strategies L.P. lifted its position in shares of Alight by 15.3% during the fourth quarter. Levin Capital Strategies L.P. now owns 49,000 shares of the company’s stock worth $530,000 after purchasing an additional 6,500 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Alight by 20.9% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,928,546 shares of the company’s stock worth $20,847,000 after purchasing an additional 333,776 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of Alight during the fourth quarter worth $415,000. 66.88% of the stock is currently owned by institutional investors.

Alight Stock Performance

Shares of Alight stock opened at $7.54 on Monday. The firm has a market cap of $4.24 billion, a P/E ratio of -0.22 and a beta of 0.55. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. Alight, Inc. has a 12 month low of $6.31 and a 12 month high of $13.34. The stock’s fifty day moving average price is $7.46 and its 200-day moving average price is $8.69.

Alight (NYSE:ALITGet Rating) last posted its earnings results on Monday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter. Alight had a positive return on equity of 6.33% and a negative net margin of 1.69%. The company had revenue of $725.00 million for the quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALIT shares. DA Davidson decreased their target price on Alight to $12.00 in a research report on Friday, July 22nd. Credit Suisse Group cut their price target on Alight to $10.00 in a research note on Monday, July 4th.

Alight Profile

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Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.

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Institutional Ownership by Quarter for Alight (NYSE:ALIT)

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