Victory Capital Management Inc. Has $44.38 Million Stock Position in Alight, Inc. (NYSE:ALIT)

Victory Capital Management Inc. decreased its stake in shares of Alight, Inc. (NYSE:ALIT) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,996,658 shares of the company’s stock after selling 163,951 shares during the period. Victory Capital Management Inc. owned 1.10% of Alight worth $44,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALIT. Nisa Investment Advisors LLC lifted its position in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares in the last quarter. Ingalls & Snyder LLC lifted its position in Alight by 20.9% during the 2nd 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. CIBC Asset Management Inc acquired a new position in Alight during the 2nd quarter valued at about $105,000. Innealta Capital LLC acquired a new position in Alight during the 3rd quarter valued at about $105,000. Finally, Amalgamated Bank lifted its position in Alight by 16.2% during the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after purchasing an additional 2,289 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Price Performance

NYSE ALIT opened at $7.73 on Friday. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. The business has a 50 day simple moving average of $7.28 and a 200 day simple moving average of $7.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.37.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 EPS. As a group, analysts forecast that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Alight Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ALIT shares. Canaccord Genuity Group upped 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. Wedbush lowered their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a research note on Tuesday, August 20th. Needham & Company LLC upped their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup lowered their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and nine have given 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 $10.95.

Insider Buying and Selling at Alight

In other Alight news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the transaction, the director now owns 883,323 shares in the company, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.33% of the company’s stock.

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.