Charles Schwab Investment Management Inc. Increases Stock Position in Alight, Inc. (NYSE:ALIT)

Charles Schwab Investment Management Inc. grew its stake in shares of Alight, Inc. (NYSE:ALIT) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,974,146 shares of the company’s stock after buying an additional 95,638 shares during the period. Charles Schwab Investment Management Inc. owned 0.54% of Alight worth $25,369,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. FourThought Financial Partners LLC boosted its position in Alight by 10.2% during the 4th quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company’s stock worth $236,000 after purchasing an additional 2,552 shares during the period. First Horizon Advisors Inc. boosted its position in Alight by 38.9% during the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after purchasing an additional 1,897 shares during the period. Victory Capital Management Inc. boosted its position in Alight by 24.4% during the 4th quarter. Victory Capital Management Inc. now owns 48,247 shares of the company’s stock worth $412,000 after purchasing an additional 9,456 shares during the period. Cannell & Co. purchased a new stake in Alight during the 4th quarter worth $4,667,000. Finally, Russell Investments Group Ltd. boosted its position in Alight by 35.3% during the 4th quarter. Russell Investments Group Ltd. now owns 940,672 shares of the company’s stock worth $8,024,000 after purchasing an additional 245,277 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. KeyCorp decreased their price target on shares of Alight from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC decreased their price target on shares of Alight from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Canaccord Genuity Group upped their price target on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. UBS Group boosted their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Wedbush cut their price objective on shares of Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alight has a consensus rating of “Buy” and an average price target of $12.00.

Insider Activity

In other news, insider Katie J. Rooney sold 26,164 shares of the company’s stock in a transaction dated 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 owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Katie J. Rooney sold 26,164 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total transaction of $234,167.80. Following the sale, the insider now owns 2,963,694 shares in the company, valued at $26,525,061.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the sale, the chief executive officer now owns 8,198,199 shares in the company, valued at approximately $80,424,332.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 543,029 shares of company stock worth $12,385,217. 3.96% of the stock is currently owned by corporate insiders.

Alight Stock Performance

Shares of Alight stock opened at $8.36 on Friday. The firm has a market cap of $4.69 billion, a PE ratio of -13.48, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. The firm’s 50-day simple moving average is $9.00 and its 200-day simple moving average is $8.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.57 and a current ratio of 1.57. Alight, Inc. has a 1 year low of $6.33 and a 1 year high of $10.38.

Alight (NYSE:ALIT) last issued its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. Equities analysts forecast that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

About Alight

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.