Geode Capital Management LLC Buys 77,948 Shares of Alight, Inc. (NYSE:ALIT)

Geode Capital Management LLC lifted its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,068,446 shares of the company's stock after purchasing an additional 77,948 shares during the quarter. Geode Capital Management LLC owned 1.84% of Alight worth $74,521,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Walleye Capital LLC acquired a new position in Alight in the 3rd quarter worth $5,063,000. Highland Peak Capital LLC bought a new stake in Alight in the 3rd quarter valued at approximately $5,315,000. Victory Capital Management Inc. grew its stake in shares of 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 acquiring an additional 1,358,020 shares in the last quarter. River Road Asset Management LLC raised its holdings in shares of Alight by 2.9% in the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company's stock valued at $73,913,000 after purchasing an additional 286,133 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Alight by 13.9% during the second quarter. Rhumbline Advisers now owns 757,020 shares of the company's stock worth $5,587,000 after purchasing an additional 92,235 shares during the last quarter. Institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

ALIT has been the topic of several recent analyst reports. Canaccord Genuity Group raised their target price 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. Needham & Company LLC boosted their target price on Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Citigroup dropped their price target on Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Finally, KeyCorp lifted their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. One equities research 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

Alight Price Performance

NYSE:ALIT traded up $0.10 during trading hours on Friday, hitting $6.86. The company's stock had a trading volume of 10,049,189 shares, compared to its average volume of 5,798,557. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. 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 stock has a fifty day simple moving average of $7.44 and a 200-day simple moving average of $7.30. The company has a market capitalization of $3.73 billion, a P/E ratio of -14.29 and a beta of 0.92.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The firm's revenue was down .4% compared to the same quarter last year. On average, analysts anticipate that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Dividend Announcement

The business also recently announced a -- dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, December 2nd.

Insiders Place Their Bets

In related news, Director William P. Foley II sold 5,000,000 shares of the 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 $7,287,414.75. This trade represents a 84.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Gregory R. Goff sold 250,000 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the sale, the president now directly owns 852,694 shares of the company's stock, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,334,929 shares of company stock worth $43,895,460. 5.33% of the stock is currently 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.