Healthcare of Ontario Pension Plan Trust Fund Buys 176,700 Shares of Alight, Inc. (NYSE:ALIT)

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Alight, Inc. (NYSE:ALIT) by 15.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,293,584 shares of the company’s stock after buying an additional 176,700 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.24% of Alight worth $9,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in Alight by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after acquiring an additional 3,342,413 shares during the period. Rubric Capital Management LP raised its position in shares of Alight by 38.3% during the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock valued at $86,185,000 after purchasing an additional 3,223,617 shares during the period. River Road Asset Management LLC lifted its stake in shares of Alight by 2.9% during 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 buying an additional 286,133 shares in the last quarter. Kinney Asset Management LLC boosted its holdings in Alight by 2.5% in the 3rd quarter. Kinney Asset Management LLC now owns 6,247,546 shares of the company’s stock worth $46,232,000 after buying an additional 150,000 shares during the period. Finally, Victory Capital Management Inc. increased 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 worth $45,465,000 after buying an additional 1,358,020 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Trading Up 0.1 %

ALIT opened at $8.00 on Friday. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. 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 business has a fifty day moving average of $7.40 and a 200 day moving average of $7.36.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. As a group, equities analysts predict that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

Insider Buying and Selling

In other Alight 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 completion of the sale, the insider now directly owns 223,327 shares in the company, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the transaction, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALIT. Citigroup lowered their price objective on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC upped their price target on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group lifted their price objective on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wedbush dropped their target price 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. Finally, KeyCorp lifted their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.