Walleye Capital LLC Makes New Investment in Alight, Inc. (NYSE:ALIT)

Walleye Capital LLC bought a new position in shares of Alight, Inc. (NYSE:ALIT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALIT. Ingalls & Snyder LLC grew its holdings in Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after purchasing an additional 2,235 shares during the period. Amalgamated Bank grew its stake in Alight by 16.2% during the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock worth $121,000 after buying an additional 2,289 shares during the period. KBC Group NV grew its stake in Alight by 24.0% during 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 period. Nisa Investment Advisors LLC boosted 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 purchasing an additional 2,961 shares during the period. Finally, FMR LLC boosted its stake in shares of Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after purchasing an additional 3,689 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Activity at Alight

In other Alight news, insider Gregory A. George sold 84,929 shares of the 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 transaction, the insider now owns 223,327 shares in the company, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William P. Foley II sold 5,000,000 shares of the 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 transaction, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.33% of the company’s stock.

Alight Price Performance

NYSE ALIT opened at $8.00 on Monday. The company has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $7.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -16.67 and a beta of 0.87. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share. Equities research analysts predict that Alight, Inc. will post 0.47 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALIT. Wedbush cut their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Citigroup lowered their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. 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. KeyCorp raised their price objective on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered shares of 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Alight presently has an average rating of “Moderate Buy” and an average target price of $10.95.

Alight 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.