Highland Peak Capital LLC Makes New $5.32 Million Investment in Alight, Inc. (NYSE:ALIT)

Highland Peak Capital LLC purchased a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 718,200 shares of the company's stock, valued at approximately $5,315,000. Alight accounts for approximately 2.3% of Highland Peak Capital LLC's portfolio, making the stock its 11th biggest holding. Highland Peak Capital LLC owned approximately 0.13% of Alight at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ingalls & Snyder LLC grew its stake in shares of Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company's stock worth $95,000 after acquiring an additional 2,235 shares during the period. Amalgamated Bank boosted its stake in Alight by 16.2% in the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company's stock worth $121,000 after purchasing an additional 2,289 shares during the period. KBC Group NV boosted its stake in Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company's stock worth $89,000 after purchasing an additional 2,331 shares during the period. Nisa Investment Advisors LLC boosted its stake in Alight by 65.3% in 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 period. Finally, Pekin Hardy Strauss Inc. boosted its stake in Alight by 7.4% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 57,750 shares of the company's stock worth $426,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 96.74% of the company's stock.

Alight Trading Up 1.7 %

Alight stock traded up $0.13 during trading hours on Thursday, reaching $7.88. The company had a trading volume of 9,185,089 shares, compared to its average volume of 5,787,639. 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 company has a 50-day moving average price of $7.31 and a 200 day moving average price of $7.37. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -16.42 and a beta of 0.87. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. The business 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 business's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. Equities analysts forecast that Alight, Inc. will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

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

Insider Transactions at Alight

In related news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of Alight 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 sale, the director now owns 883,323 shares in the company, valued at $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.33% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Wedbush cut their target price on Alight from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. downgraded 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. KeyCorp lifted their price target on Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC raised 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Alight presently has a consensus rating of "Moderate Buy" and a consensus 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.