Intech Investment Management LLC Makes New Investment in Alight, Inc. (NYSE:ALIT)

Intech Investment Management LLC purchased a new stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 107,365 shares of the company's stock, valued at approximately $795,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company's stock worth $55,000 after buying an additional 2,961 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Alight in the third quarter worth approximately $74,000. KBC Group NV boosted its holdings in shares of Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company's stock worth $89,000 after buying an additional 2,331 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company's stock worth $95,000 after buying an additional 2,235 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Alight during the 2nd quarter worth approximately $105,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Price Performance

Shares of Alight stock traded up $0.01 on Friday, hitting $8.00. 1,701,393 shares of the company traded hands, compared to its average volume of 6,709,467. The stock has a market capitalization of $4.34 billion, a P/E 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. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The business has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $7.37.

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

Alight Dividend Announcement

The firm also recently announced 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 Ratings Changes

ALIT has been the topic of a number of recent analyst reports. Needham & Company LLC raised their target price on shares of Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Citigroup decreased their target price on shares of Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. KeyCorp raised their target price on shares of Alight from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their target price 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. Finally, JPMorgan Chase & Co. cut 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.95.

Insider Activity at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 883,323 shares of the company's stock, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction 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 transaction, the insider now directly owns 223,327 shares of the company's stock, valued at $1,697,285.20. The trade was a 27.55 % 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 insiders.

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.