Vanguard Group Inc. Buys 1,205,027 Shares of Alight, Inc. $ALIT

Vanguard Group Inc. increased its stake in shares of Alight, Inc. (NYSE:ALIT) by 2.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 43,783,776 shares of the company’s stock after acquiring an additional 1,205,027 shares during the quarter. Vanguard Group Inc. owned about 0.08% of Alight worth $85,378,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALIT. Aristotle Capital Boston LLC boosted its stake in Alight by 64.7% in the third quarter. Aristotle Capital Boston LLC now owns 3,161,157 shares of the company’s stock valued at $10,305,000 after acquiring an additional 1,241,326 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Alight by 17.9% in the third quarter. Neuberger Berman Group LLC now owns 7,250,711 shares of the company’s stock valued at $23,651,000 after acquiring an additional 1,102,802 shares during the last quarter. Ruffer LLP bought a new position in Alight in the fourth quarter valued at approximately $3,339,000. Invenomic Capital Management LP bought a new position in Alight in the third quarter valued at approximately $6,211,000. Finally, Brevan Howard Capital Management LP boosted its stake in Alight by 989.3% in the third quarter. Brevan Howard Capital Management LP now owns 859,581 shares of the company’s stock valued at $2,802,000 after acquiring an additional 780,670 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Key Headlines Impacting Alight

Here are the key news stories impacting Alight this week:

• Positive Sentiment: Alight expanded its partner network with Cylinder Health and Leap, broadening its health-solution ecosystem and potentially improving its value proposition for employers. Alight Adds Cylinder and Leap to Partner Network
• Neutral Sentiment: Several brokerage and research items referenced Alight, including a consensus “Hold” view, but these notes did not appear to materially change the near-term outlook. Alight, Inc. (NYSE:ALIT) Given Consensus Recommendation of “Hold” by Brokerages
• Negative Sentiment: Multiple firms issued updated reminders about the securities class action and the imminent May 15 lead plaintiff deadline, keeping legal uncertainty front and center for ALIT shareholders. Deadline Soon: Alight, Inc. (ALIT) Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit
• Negative Sentiment: Additional class-action notices from other plaintiff firms suggest the litigation narrative is broadening and may continue to overhang the stock in the near term. SHAREHOLDER ALERT Bernstein Liebhard LLP Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Alight, Inc. (ALIT)

Alight Trading Up 9.2%

ALIT opened at $0.79 on Thursday. The firm’s fifty day moving average is $0.71 and its two-hundred day moving average is $1.46. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $423.86 million, a PE ratio of -0.14, a price-to-earnings-growth ratio of 0.23 and a beta of 1.56. Alight, Inc. has a twelve month low of $0.48 and a twelve month high of $6.11.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, May 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $534.00 million for the quarter, compared to analyst estimates of $502.74 million. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. Equities research analysts anticipate that Alight, Inc. will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALIT. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. KeyCorp cut shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. DA Davidson reduced their price objective on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Bank of America began coverage on shares of Alight in a research note on Tuesday, February 17th. They issued an “underperform” rating and a $1.40 price objective on the stock. Finally, Weiss Ratings cut shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.56.

Insiders Place Their Bets

In other news, CEO Rohit Verma bought 112,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $0.89 per share, for a total transaction of $99,680.00. Following the completion of the acquisition, the chief executive officer owned 1,134,883 shares in the company, valued at approximately $1,010,045.87. This trade represents a 10.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 242,000 shares of company stock valued at $201,280 in the last quarter. Company insiders own 1.93% of the company’s stock.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.