Kinney Asset Management LLC Increases Holdings in Alight, Inc. (NYSE:ALIT)

Kinney Asset Management LLC increased its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,247,546 shares of the company's stock after purchasing an additional 150,000 shares during the quarter. Alight makes up 43.3% of Kinney Asset Management LLC's investment portfolio, making the stock its biggest holding. Kinney Asset Management LLC owned approximately 1.14% of Alight worth $46,232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE boosted its holdings in Alight by 3,543.6% in the third quarter. US Bancorp DE now owns 20,404 shares of the company's stock valued at $151,000 after acquiring an additional 19,844 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Alight by 54.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company's stock valued at $85,000 after purchasing an additional 4,049 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Alight during the third quarter worth $1,861,000. Kirr Marbach & Co. LLC IN raised its stake in Alight by 0.7% during the third quarter. Kirr Marbach & Co. LLC IN now owns 695,458 shares of the company's stock worth $5,146,000 after buying an additional 4,920 shares during the last quarter. Finally, Creative Planning raised its stake in Alight by 50.8% during the third quarter. Creative Planning now owns 112,805 shares of the company's stock worth $835,000 after buying an additional 38,024 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Alight Stock Performance

Shares of Alight stock traded down $0.13 on Friday, reaching $6.80. 4,060,179 shares of the company traded hands, compared to its average volume of 2,904,785. 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 has a 50 day moving average of $7.22 and a 200 day moving average of $7.51. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The firm has a market capitalization of $3.72 billion, a PE ratio of -15.45 and a beta of 0.87.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $787.00 million during the quarter, compared to analyst estimates of $791.22 million. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. Equities analysts forecast that Alight, Inc. will post 0.42 earnings per share for the current year.

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.