Strs Ohio Raises Stock Holdings in Alight, Inc. (NYSE:ALIT)

Strs Ohio increased its position in Alight, Inc. (NYSE:ALIT) by 30.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,300 shares of the company’s stock after purchasing an additional 5,700 shares during the period. Strs Ohio’s holdings in Alight were worth $207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALIT. Vanguard Group Inc. grew its stake in shares of Alight by 2.3% in the third quarter. Vanguard Group Inc. now owns 34,651,300 shares of the company’s stock worth $245,678,000 after acquiring an additional 792,348 shares during the last quarter. Fidelity National Financial Inc. grew its stake in shares of Alight by 33.3% in the third quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock worth $141,800,000 after acquiring an additional 5,000,000 shares during the last quarter. Northern Trust Corp grew its stake in shares of Alight by 2.7% in the third quarter. Northern Trust Corp now owns 3,660,868 shares of the company’s stock worth $25,956,000 after acquiring an additional 96,321 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Alight by 3.4% in the third quarter. Loomis Sayles & Co. L P now owns 3,306,359 shares of the company’s stock worth $23,442,000 after acquiring an additional 107,373 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alight by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,508 shares of the company’s stock worth $20,409,000 after acquiring an additional 215,360 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Stock Down 2.1 %

ALIT stock opened at $9.02 on Wednesday. Alight, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The business’s 50-day moving average is $9.26 and its two-hundred day moving average is $8.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -16.40, a P/E/G ratio of 1.77 and a beta of 0.92.

Alight (NYSE:ALIT) last posted its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion. As a group, analysts forecast that Alight, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at Alight

In other Alight news, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $95.10, for a total value of $7,894,821.60. Following the transaction, the chief executive officer now owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Katie J. Rooney sold 26,164 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total value of $234,167.80. Following the transaction, the insider now owns 2,963,694 shares of the company’s stock, valued at $26,525,061.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $95.10, for a total value of $7,894,821.60. Following the completion of the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,129 shares of company stock valued at $12,449,117. 3.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALIT. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Alight in a research note on Thursday, April 25th. Needham & Company LLC increased their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Canaccord Genuity Group increased their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and set a $12.00 price objective on shares of Alight in a research report on Friday, January 5th. Finally, UBS Group increased their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alight has an average rating of “Buy” and a consensus price target of $12.71.

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.