Phocas Financial Corp. Sells 3,232 Shares of Alight, Inc. (NYSE:ALIT)

Phocas Financial Corp. decreased its position in shares of Alight, Inc. (NYSE:ALIT) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516,665 shares of the company’s stock after selling 3,232 shares during the period. Phocas Financial Corp. owned approximately 0.09% of Alight worth $4,774,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Alight by 6.4% in the third quarter. Tower Research Capital LLC TRC now owns 17,748 shares of the company’s stock valued at $130,000 after buying an additional 1,071 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Alight by 1.3% during the first quarter. Ensign Peak Advisors Inc now owns 93,130 shares of the company’s stock valued at $858,000 after acquiring an additional 1,200 shares in the last quarter. Amalgamated Bank boosted its position in shares of Alight by 2.8% during the fourth quarter. Amalgamated Bank now owns 44,643 shares of the company’s stock valued at $373,000 after buying an additional 1,217 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Alight by 15.8% during the first quarter. Nisa Investment Advisors LLC now owns 9,878 shares of the company’s stock valued at $91,000 after buying an additional 1,350 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Alight by 2.4% during the first quarter. Arizona State Retirement System now owns 74,003 shares of the company’s stock valued at $682,000 after buying an additional 1,720 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.

Insider Transactions at Alight

In other news, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $7.98, for a total value of $117,342,731.94. Following the transaction, the insider now directly owns 43,602 shares in the company, valued at $347,943.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. KeyCorp dropped their price target on Alight from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. TheStreet upgraded Alight from a “d” rating to a “c-” rating in a research note on Thursday, August 17th. Citigroup initiated coverage on Alight in a research report on Monday, June 12th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of Alight in a report on Thursday, September 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alight currently has a consensus rating of “Buy” and an average target price of $13.00.

Alight Stock Performance

Shares of NYSE:ALIT traded up $0.02 during trading on Tuesday, hitting $7.55. The stock had a trading volume of 480,043 shares, compared to its average volume of 2,882,991. Alight, Inc. has a 12 month low of $7.01 and a 12 month high of $10.19. The firm’s fifty day moving average is $8.48 and its 200 day moving average is $8.78. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.56.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, August 1st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $806.00 million during the quarter, compared to analyst estimates of $796.54 million. Alight had a positive return on equity of 3.32% and a negative net margin of 7.12%.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions in the United States and internationally. 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.