Walleye Capital LLC Buys Shares of 684,233 Alight, Inc. (NYSE:ALIT)

Walleye Capital LLC purchased a new position in Alight, Inc. (NYSE:ALIT - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 684,233 shares of the company's stock, valued at approximately $5,063,000. Walleye Capital LLC owned about 0.13% of Alight at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Alight by 4.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,452 shares of the company's stock worth $655,000 after purchasing an additional 4,050 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Alight by 15.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,293,584 shares of the company's stock valued at $9,573,000 after buying an additional 176,700 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of Alight by 38.3% during the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company's stock worth $86,185,000 after purchasing an additional 3,223,617 shares in the last quarter. FMR LLC increased its stake in shares of Alight by 44.4% during the third quarter. FMR LLC now owns 11,995 shares of the company's stock worth $89,000 after purchasing an additional 3,689 shares in the last quarter. Finally, Littlejohn & Co. LLC increased its stake in shares of Alight by 6.9% during the third quarter. Littlejohn & Co. LLC now owns 1,450,859 shares of the company's stock worth $10,736,000 after purchasing an additional 93,500 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President Gregory R. Goff sold 250,000 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the president now directly owns 852,694 shares in the company, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their position. The transaction 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 business's 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 completion of the transaction, the director now owns 883,323 shares of the company's stock, 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. Insiders sold 5,334,929 shares of company stock valued at $43,895,460 over the last 90 days. 5.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALIT shares. KeyCorp boosted their target price on shares of Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Needham & Company LLC increased their target price on shares of Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of Alight from an "overweight" rating to a "neutral" rating and set a $8.00 target price on the stock. in a report on Tuesday, August 20th. Wedbush dropped their price objective on shares of Alight from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group increased their target price on shares of Alight from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $10.95.

Alight Price Performance

NYSE ALIT traded up $0.05 on Monday, reaching $8.02. The company's stock had a trading volume of 3,777,500 shares, compared to its average volume of 5,739,672. 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 twelve month low of $6.15 and a twelve month high of $10.38. The stock has a market cap of $4.35 billion, a PE ratio of -16.54 and a beta of 0.91. The firm's 50 day moving average is $7.41 and its two-hundred day moving average is $7.36.

Alight (NYSE:ALIT - Get Free Report) last issued 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 positive return on equity of 5.61% and a negative net margin of 7.95%. The company had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm's quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Alight, Inc. will post 0.47 EPS for the current year.

Alight Dividend Announcement

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

Alight Company 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.