Healthcare of Ontario Pension Plan Trust Fund Acquires 176,700 Shares of Alight, Inc. (NYSE:ALIT)

Healthcare of Ontario Pension Plan Trust Fund raised its position in Alight, Inc. (NYSE:ALIT - Free Report) by 15.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,293,584 shares of the company's stock after buying an additional 176,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.24% of Alight worth $9,573,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ALIT. Wedge Capital Management L L P NC raised its position in shares of Alight by 15.1% during the second quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company's stock worth $4,314,000 after acquiring an additional 76,485 shares during the last quarter. Highland Peak Capital LLC bought a new stake in shares of Alight during the third quarter worth $5,315,000. Victory Capital Management Inc. raised its stake in shares of Alight by 28.3% in the 2nd 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 during the period. River Road Asset Management LLC raised its position 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 valued at $73,913,000 after buying an additional 286,133 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Alight by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 757,020 shares of the company's stock worth $5,587,000 after acquiring an additional 92,235 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wedbush lowered their price target on shares of Alight from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. downgraded Alight from an "overweight" rating to a "neutral" rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. KeyCorp increased their price target on shares of Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Citigroup dropped their price objective on shares of Alight from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Finally, Canaccord Genuity Group upped their target price on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $10.95.

Alight Stock Performance

NYSE ALIT traded up $0.01 during trading on Friday, hitting $8.00. 1,701,393 shares of the company's stock traded hands, compared to its average volume of 6,709,467. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of -16.67 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The business has a 50 day moving average of $7.41 and a 200-day moving average of $7.37.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 EPS. As a group, equities research analysts anticipate that Alight, Inc. will post 0.47 earnings per share for the current fiscal year.

Alight Announces Dividend

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

Insider Activity

In related 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 transaction of $645,460.40. Following the transaction, the insider now owns 223,327 shares in the company, valued at $1,697,285.20. The trade was a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the company's 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by corporate insiders.

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.