Edgestream Partners L.P. Makes New $4.31 Million Investment in Alight, Inc. (NYSE:ALIT)

Edgestream Partners L.P. purchased a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 582,581 shares of the company's stock, valued at approximately $4,311,000. Edgestream Partners L.P. owned approximately 0.11% of Alight at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALIT. Price T Rowe Associates Inc. MD increased its position in Alight by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 224,584 shares of the company's stock valued at $2,213,000 after buying an additional 15,287 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Alight in the 1st quarter valued at approximately $571,000. Wedge Capital Management L L P NC boosted its stake in Alight by 15.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company's stock worth $4,314,000 after purchasing an additional 76,485 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company's stock worth $55,000 after purchasing an additional 2,961 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Alight by 100.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company's stock valued at $26,385,000 after purchasing an additional 1,795,830 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Insider Activity

In related news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the sale, the insider now directly owns 223,327 shares in the company, valued at approximately $1,697,285.20. The trade was a 27.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 of the company's stock, valued at $7,287,414.75. The trade was a 84.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.33% of the company's stock.

Alight Stock Performance

ALIT stock traded up $0.01 during midday trading on Friday, hitting $8.00. 1,701,393 shares of the stock traded hands, compared to its average volume of 6,709,467. Alight, Inc. has a 1-year low of $6.15 and a 1-year 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's fifty day simple moving average is $7.41 and its 200-day simple moving average is $7.37. The firm has a market cap of $4.34 billion, a P/E ratio of -16.67 and a beta of 0.87.

Alight (NYSE:ALIT - Get Free Report) 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 firm 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 company's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. On average, analysts expect that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently announced a -- dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Analysts Set New Price Targets

ALIT has been the subject of several research reports. Canaccord Genuity Group lifted their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Needham & Company LLC increased their price objective on Alight from $9.00 to $11.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Citigroup reduced their price objective on Alight from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. KeyCorp upped their target price on Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered shares of Alight from an "overweight" rating to a "neutral" rating and set a $8.00 price target for the company. in a research report on Tuesday, August 20th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Alight currently has a consensus rating of "Moderate Buy" and an average price target of $10.95.

About Alight

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.