Weiss Asset Management LP Invests $1.51 Million in Alight, Inc. (NYSE:ALIT)

Weiss Asset Management LP purchased a new stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 204,380 shares of the company's stock, valued at approximately $1,512,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake 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 valued at $55,000 after buying an additional 2,961 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Alight in the 3rd quarter worth approximately $74,000. KBC Group NV boosted its position in Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company's stock valued at $89,000 after acquiring an additional 2,331 shares during the last quarter. Soros Fund Management LLC acquired a new stake in Alight during the third quarter worth approximately $89,000. Finally, FMR LLC grew its position in shares of Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company's stock worth $89,000 after buying an additional 3,689 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Insider Activity

In other Alight news, Director William P. Foley II sold 5,000,000 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 883,323 shares in the company, valued at $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory A. George sold 84,929 shares of the firm's 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 owns 223,327 shares of the company's stock, valued at approximately $1,697,285.20. The trade was a 27.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,334,929 shares of company stock valued at $43,895,460 over the last three months. Corporate insiders own 5.33% of the company's stock.

Alight Price Performance

NYSE ALIT traded down $0.02 on Friday, reaching $7.48. The company had a trading volume of 4,422,040 shares, compared to its average volume of 7,518,003. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The company's fifty day moving average is $7.46 and its 200 day moving average is $7.36. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38.

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

Alight Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Alight from an "overweight" rating to a "neutral" rating and set a $8.00 price objective on the stock. in a research report on Tuesday, August 20th. Canaccord Genuity Group raised their price objective on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Citigroup decreased their price objective on Alight from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Needham & Company LLC increased their target price on Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, KeyCorp boosted their price target on shares of Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Alight currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

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.