Y Intercept Hong Kong Ltd Makes New Investment in Alight, Inc. (NYSE:ALIT)

Y Intercept Hong Kong Ltd acquired a new position in Alight, Inc. (NYSE:ALIT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 79,481 shares of the company's stock, valued at approximately $588,000.

Several other large investors also recently made changes to their positions in ALIT. Walleye Capital LLC purchased a new position in Alight in the 3rd quarter worth approximately $5,063,000. Highland Peak Capital LLC acquired a new stake in Alight during the 3rd quarter valued at $5,315,000. Victory Capital Management Inc. increased its stake in Alight by 28.3% during 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 during the period. River Road Asset Management LLC lifted its holdings 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 worth $73,913,000 after buying an additional 286,133 shares in the last quarter. Finally, Rhumbline Advisers boosted its position 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 buying an additional 92,235 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ALIT shares. KeyCorp lifted their target price on Alight from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered 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. Canaccord Genuity Group raised their price target on shares of Alight from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Citigroup cut their price target on shares of Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Finally, Needham & Company LLC raised their price objective on shares of Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Alight currently has an average rating of "Moderate Buy" and a consensus price target of $10.83.

Alight Stock Performance

Shares of NYSE ALIT traded down $0.05 during mid-day trading on Friday, hitting $7.16. The company had a trading volume of 4,184,003 shares, compared to its average volume of 5,906,862. Alight, Inc. has a 12 month low of $6.15 and a 12 month high of $10.38. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -14.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The firm's 50 day simple moving average is $7.46 and its two-hundred day simple moving average is $7.32.

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

Alight Dividend Announcement

The company also recently announced a -- dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Insider Buying and Selling at Alight

In other Alight 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory A. George sold 84,929 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the transaction, the insider now owns 223,327 shares of the company's stock, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,334,929 shares of company stock worth $43,895,460. 5.33% of the stock is owned by company insiders.

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.