Loomis Sayles & Co. L P Sells 794,715 Shares of Alight, Inc. (NYSE:ALIT)

Loomis Sayles & Co. L P lessened its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 21.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,937,596 shares of the company's stock after selling 794,715 shares during the period. Loomis Sayles & Co. L P owned about 0.54% of Alight worth $21,738,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Rubric Capital Management LP bought a new position in Alight during the 2nd quarter valued at $62,162,000. Dimensional Fund Advisors LP boosted its position in shares of Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company's stock worth $155,463,000 after buying an additional 3,342,413 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Alight by 100.9% in the second quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company's stock worth $26,385,000 after purchasing an additional 1,795,830 shares in the last quarter. Victory Capital Management Inc. grew its stake in Alight by 28.3% in the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company's stock valued at $45,465,000 after purchasing an additional 1,358,020 shares in the last quarter. Finally, Engine Capital Management LP acquired a new position in Alight in the second quarter worth approximately $9,594,000. Institutional investors and hedge funds own 96.74% of the company's stock.

Alight Price Performance

Shares of NYSE ALIT traded down $0.03 during mid-day trading on Wednesday, hitting $7.99. 3,373,937 shares of the stock traded hands, compared to its average volume of 5,765,764. The firm has a 50 day simple moving average of $7.38 and a two-hundred day simple moving average of $7.35. The company has a market cap of $4.34 billion, a PE ratio of -16.62 and a beta of 0.87. 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.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting 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 company had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the previous year, the business posted $0.07 EPS. Alight's revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALIT. KeyCorp upped 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. 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 boosted their price target on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. downgraded shares of Alight from an "overweight" rating to a "neutral" rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. Finally, Wedbush dropped their price target on Alight from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Alight has a consensus rating of "Moderate Buy" and an average target price of $10.95.

Insiders Place Their Bets

In other Alight news, insider Gregory A. George sold 84,929 shares of the business's stock in a transaction dated 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. The trade was a 27.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction 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 sale, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.33% of the company's stock.

Alight 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.