Wexford Capital LP Grows Holdings in Alight, Inc. (NYSE:ALIT)

Wexford Capital LP boosted its holdings in shares of Alight, Inc. (NYSE:ALIT) by 320.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 110,000 shares of the company’s stock after purchasing an additional 83,822 shares during the period. Wexford Capital LP’s holdings in Alight were worth $814,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alight by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 224,584 shares of the company’s stock valued at $2,213,000 after buying an additional 15,287 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Alight during the 1st quarter valued at approximately $571,000. Wedge Capital Management L L P NC increased its stake in Alight by 15.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock valued at $4,314,000 after purchasing an additional 76,485 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in 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 last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Alight by 100.9% in the second quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock valued at $26,385,000 after purchasing an additional 1,795,830 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Performance

NYSE:ALIT opened at $7.50 on Friday. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The business’s 50-day simple moving average is $7.45 and its 200 day simple moving average is $7.36. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $555.00 million for the quarter, compared to the consensus estimate 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 posted $0.07 EPS. Research analysts forecast that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Needham & Company LLC lifted their target price on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded 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. Citigroup dropped their price objective on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. KeyCorp upped 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. Finally, Canaccord Genuity Group lifted their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Insider Buying and Selling at Alight

In other Alight news, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the transaction, the insider now owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction on Wednesday, November 13th. The stock was 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 in the company, valued at $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,334,929 shares of company stock worth $43,895,460. 5.33% of the stock is owned by company insiders.

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.