Intech Investment Management LLC Purchases New Shares in Alight, Inc. (NYSE:ALIT)

Intech Investment Management LLC acquired a new position in Alight, Inc. (NYSE:ALIT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 107,365 shares of the company’s stock, valued at approximately $795,000.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in Alight by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 224,584 shares of the company’s stock worth $2,213,000 after purchasing an additional 15,287 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Alight in the first quarter worth approximately $571,000. Wedge Capital Management L L P NC raised its holdings in shares of Alight by 15.1% in the second quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after buying an additional 76,485 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Alight by 100.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock valued at $26,385,000 after acquiring an additional 1,795,830 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares of the company’s stock, valued at $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the transaction, the insider now owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. 5.33% of the stock is owned by corporate insiders.

Alight Stock Up 0.1 %

Shares of ALIT stock opened at $8.00 on Friday. The stock’s 50-day simple moving average is $7.40 and its 200-day simple moving average is $7.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $4.34 billion, a PE ratio of -16.67 and a beta of 0.87. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. Alight’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. Equities analysts expect that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Wall Street Analyst Weigh In

ALIT has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their target price on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wedbush lowered their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Tuesday, August 20th. KeyCorp boosted their price target on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Citigroup reduced their price objective on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Alight Company 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.