Strs Ohio lifted its holdings in Alight, Inc. (NYSE:ALIT – Get Rating) by 109.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,900 shares of the company’s stock after buying an additional 3,600 shares during the quarter. Strs Ohio’s holdings in Alight were worth $50,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Alight by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 23,604,625 shares of the company’s stock worth $234,866,000 after buying an additional 2,828,903 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Alight by 9.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 14,519,558 shares of the company’s stock valued at $98,065,000 after purchasing an additional 1,273,586 shares during the last quarter. State Street Corp lifted its position in Alight by 616.8% in the 2nd quarter. State Street Corp now owns 5,799,562 shares of the company’s stock valued at $39,147,000 after purchasing an additional 4,990,518 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Alight by 500.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,138,530 shares of the company’s stock valued at $34,685,000 after purchasing an additional 4,282,526 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Alight by 594.4% in the 2nd quarter. Northern Trust Corp now owns 2,960,149 shares of the company’s stock valued at $19,981,000 after purchasing an additional 2,533,863 shares during the last quarter. 95.68% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Credit Suisse Group lifted their price objective on shares of Alight to $13.00 in a research report on Tuesday, November 15th. Wedbush started coverage on shares of Alight in a research note on Friday, December 9th. They set an “outperform” rating and a $13.00 target price on the stock. Finally, Needham & Company LLC started coverage on shares of Alight in a research note on Tuesday, December 6th. They issued a “buy” rating and a $12.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $12.86.
Alight Stock Performance
Alight (NYSE:ALIT – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Alight had a net margin of 2.46% and a return on equity of 3.65%. The company had revenue of $750.00 million during the quarter, compared to analysts’ expectations of $737.57 million. During the same period last year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Alight, Inc. will post 0.31 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Richard N. Massey purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was acquired at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the acquisition, the director now owns 1,193,195 shares in the company, valued at approximately $10,022,838. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $7.46, for a total transaction of $90,673,845.66. Following the transaction, the insider now owns 295 shares of the company’s stock, valued at $2,200.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction on Monday, November 14th. The stock was acquired at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the acquisition, the director now directly owns 1,193,195 shares in the company, valued at $10,022,838. The disclosure for this purchase can be found here. 3.96% of the stock is currently owned by corporate insiders.
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.
- Get a free copy of the StockNews.com research report on Alight (ALIT)
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