Holocene Advisors LP Makes New Investment in Alight, Inc. (NYSE:ALIT)

Holocene Advisors LP bought a new stake in Alight, Inc. (NYSE:ALIT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,802 shares of the company’s stock, valued at approximately $376,000.

Several other institutional investors and hedge funds have also modified their holdings of ALIT. Cetera Advisors LLC acquired a new stake in Alight during the first quarter worth approximately $571,000. Wedge Capital Management L L P NC grew its holdings in shares of Alight by 15.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after purchasing an additional 76,485 shares in the last quarter. Nisa Investment Advisors LLC increased its position 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 worth $55,000 after purchasing an additional 2,961 shares during the period. Bank of New York Mellon Corp raised its stake 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Alight by 29.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,402 shares of the company’s stock worth $623,000 after purchasing an additional 19,353 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Trading Down 0.3 %

Shares of ALIT stock opened at $7.48 on Friday. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. The stock’s fifty day simple moving average is $7.46 and its 200 day simple moving average is $7.36. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $4.06 billion, a P/E ratio of -15.58 and a beta of 0.92.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. 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 firm posted $0.07 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Stockholders 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 Analysts Forecast Growth

ALIT has been the subject of several analyst reports. KeyCorp boosted their target price 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. Citigroup lowered their price objective 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. Needham & Company LLC raised their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research note on Tuesday, August 20th. Finally, Canaccord Genuity Group upped their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.83.

Insider Buying and Selling

In other news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total value of $2,000,000.00. Following the transaction, the president now owns 852,694 shares in the company, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the sale, the insider now directly owns 223,327 shares in the company, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,334,929 shares of company stock valued at $43,895,460 over the last 90 days. 5.33% of the stock is owned by insiders.

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.