Bailard Inc. Invests $264,000 in Alight, Inc. (NYSE:ALIT)

Bailard Inc. acquired a new stake in shares of Alight, Inc. (NYSE:ALIT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 31,000 shares of the company’s stock, valued at approximately $264,000.

Other hedge funds also recently bought and sold shares of the company. Fidelity National Financial Inc. raised its holdings in shares of Alight by 33.3% during the 3rd quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock worth $141,800,000 after acquiring an additional 5,000,000 shares during the period. Boston Partners boosted its holdings in Alight by 179.6% in the 3rd quarter. Boston Partners now owns 2,819,361 shares of the company’s stock valued at $19,847,000 after purchasing an additional 1,811,141 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Alight by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 34,651,300 shares of the company’s stock valued at $245,678,000 after purchasing an additional 792,348 shares during the last quarter. Monashee Investment Management LLC grew its stake in shares of Alight by 476.0% in the 3rd quarter. Monashee Investment Management LLC now owns 957,878 shares of the company’s stock valued at $6,791,000 after buying an additional 791,590 shares during the period. Finally, Bullseye Asset Management LLC increased its holdings in shares of Alight by 414.6% during the 3rd quarter. Bullseye Asset Management LLC now owns 396,425 shares of the company’s stock worth $2,811,000 after buying an additional 319,386 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analysts Set New Price Targets

ALIT has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Needham & Company LLC increased their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Citigroup restated a “buy” rating and issued a $12.00 price objective on shares of Alight in a report on Friday, January 5th. UBS Group increased their target price on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Alight in a research note on Thursday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $12.71.

Alight Price Performance

Shares of NYSE:ALIT opened at $9.11 on Monday. Alight, Inc. has a 1 year low of $6.33 and a 1 year high of $10.38. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average is $9.28 and its two-hundred day moving average is $8.46.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. Analysts anticipate that Alight, Inc. will post 0.5 EPS for the current year.

Insider Transactions at Alight

In related news, CEO Stephan Scholl sold 428,574 shares of Alight stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alight news, insider Katie J. Rooney sold 26,164 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the sale, the insider now directly owns 2,963,694 shares of the company’s stock, valued at approximately $26,525,061.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephan Scholl sold 428,574 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the completion of the sale, the chief executive officer now owns 8,198,199 shares in the company, valued at $80,424,332.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,129 shares of company stock valued at $12,449,117. 3.66% of the stock is currently owned by company insiders.

Alight Profile

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.