Swiss National Bank Increases Position in Alight, Inc. (NYSE:ALIT)

Swiss National Bank increased its stake in Alight, Inc. (NYSE:ALIT) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 792,100 shares of the company’s stock after purchasing an additional 38,000 shares during the quarter. Swiss National Bank owned 0.14% of Alight worth $5,862,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wedge Capital Management L L P NC increased its holdings in shares of Alight by 15.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock valued at $4,314,000 after purchasing an additional 76,485 shares in the last quarter. Victory Capital Management Inc. grew its stake in Alight by 28.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after acquiring an additional 1,358,020 shares during the last quarter. River Road Asset Management LLC grew its stake in Alight by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after acquiring an additional 286,133 shares during the last quarter. Rhumbline Advisers grew its stake in Alight by 13.9% in the 2nd quarter. Rhumbline Advisers now owns 757,020 shares of the company’s stock valued at $5,587,000 after acquiring an additional 92,235 shares during the last quarter. Finally, Chicago Capital LLC acquired a new stake in Alight in the 2nd quarter valued at about $3,357,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Insider Buying and Selling

In related news, insider Gregory A. George sold 84,929 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.60, for a total value of $645,460.40. Following the transaction, the insider now owns 223,327 shares in the company, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 883,323 shares in the company, valued at $7,287,414.75. The trade was a 84.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.33% of the company’s stock.

Alight Price Performance

Alight stock opened at $7.99 on Thursday. The firm’s 50-day moving average is $7.38 and its two-hundred day moving average is $7.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The stock has a market capitalization of $4.34 billion, a P/E ratio of -16.65 and a beta of 0.87.

Alight (NYSE:ALIT) last released its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $538.39 million. During the same period last year, the company earned $0.07 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts predict 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 given a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Analysts Set New Price Targets

ALIT has been the topic of a number of research reports. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, August 20th. Needham & Company LLC increased their price objective 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. Canaccord Genuity Group increased their price objective on shares of Alight from $11.00 to $12.00 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 on the stock in a research note on Thursday, August 8th. Finally, Citigroup decreased their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

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.