Brighton Jones LLC Takes Position in Alight, Inc. (NYSE:ALIT)

Brighton Jones LLC acquired a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 251,534 shares of the company's stock, valued at approximately $1,861,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Alight by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company's stock worth $374,707,000 after acquiring an additional 2,842,454 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Alight by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company's stock worth $155,463,000 after purchasing an additional 3,342,413 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Alight by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company's stock valued at $187,745,000 after purchasing an additional 331,303 shares during the last quarter. Wolf Hill Capital Management LP boosted its position in shares of Alight by 28.4% in the 1st quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company's stock valued at $109,309,000 after purchasing an additional 2,454,870 shares during the period. Finally, Rubric Capital Management LP purchased a new position in Alight during the 2nd quarter worth approximately $62,162,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Stock Performance

Shares of ALIT stock traded down $0.05 during trading hours on Friday, reaching $7.04. 3,978,253 shares of the company's stock were exchanged, compared to its average volume of 5,684,518. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The company's 50 day moving average is $7.22 and its two-hundred day moving average is $7.62. The company has a market cap of $3.84 billion, a P/E ratio of -16.11 and a beta of 0.86. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38.

Alight (NYSE:ALIT - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. The company had revenue of $787.00 million for the quarter, compared to analyst estimates of $791.22 million. Equities research analysts anticipate that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALIT. JPMorgan Chase & Co. cut Alight from an "overweight" rating to a "neutral" rating and set a $8.00 price objective for the company. in a research note on Tuesday, August 20th. KeyCorp decreased their price target on shares of Alight from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, July 11th. Needham & Company LLC restated a "buy" rating and issued a $9.00 price objective on shares of Alight in a research note on Monday, September 30th. Wedbush decreased their target price on shares of Alight from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Finally, Citigroup dropped their price target on Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.75.

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.