SG Americas Securities LLC Sells 48,043 Shares of Alight, Inc. (NYSE:ALIT)

SG Americas Securities LLC decreased its position in Alight, Inc. (NYSE:ALIT – Get Rating) by 39.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,738 shares of the company’s stock after selling 48,043 shares during the period. SG Americas Securities LLC’s holdings in Alight were worth $540,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 2,828,903 shares in the last quarter. State Street Corp boosted its stake in Alight by 616.8% in the 2nd quarter. State Street Corp now owns 5,799,562 shares of the company’s stock worth $39,147,000 after purchasing an additional 4,990,518 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Alight by 500.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,138,530 shares of the company’s stock worth $34,685,000 after purchasing an additional 4,282,526 shares in the last quarter. Northern Trust Corp boosted its stake in Alight by 594.4% in the 2nd quarter. Northern Trust Corp now owns 2,960,149 shares of the company’s stock worth $19,981,000 after purchasing an additional 2,533,863 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Alight by 12.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,567,500 shares of the company’s stock valued at $18,820,000 after acquiring an additional 287,947 shares during the period. Institutional investors own 95.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ALIT shares. Needham & Company LLC started coverage on shares of Alight in a research note on Tuesday, December 6th. They set a “buy” rating and a $12.00 target price on the stock. Credit Suisse Group upped their target price on shares of Alight to $13.00 in a research note on Tuesday, November 15th. Finally, 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.86.

Insider Activity

In other news, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction that occurred on Monday, November 14th. The stock was bought at an average cost of $8.40 per share, with a total value of $840,000.00. Following the acquisition, the director now owns 1,193,195 shares of the company’s stock, valued at approximately $10,022,838. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of the stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $7.46, for a total value of $90,673,845.66. Following the completion of the sale, the insider now directly owns 295 shares of the company’s stock, valued at approximately $2,200.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction that occurred on Monday, November 14th. The stock was purchased at an average cost of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the director now directly owns 1,193,195 shares in the company, valued at approximately $10,022,838. The disclosure for this purchase can be found here. Insiders own 3.96% of the company’s stock.

Alight Price Performance

NYSE ALIT opened at $9.26 on Tuesday. Alight, Inc. has a 52 week low of $6.31 and a 52 week high of $11.10. The firm has a market capitalization of $5.15 billion, a P/E ratio of 57.88 and a beta of 0.67. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $8.58 and a 200-day moving average price of $8.14.

Alight (NYSE:ALIT – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.05 EPS for the quarter, beating 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 firm had revenue of $750.00 million during the quarter, compared to analyst estimates of $737.57 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Alight, Inc. will post 0.31 earnings per share for the current year.

About Alight

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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.