Levin Capital Strategies L.P. Purchases 74,134 Shares of Alight, Inc. $ALIT

Levin Capital Strategies L.P. increased its position in Alight, Inc. (NYSE:ALIT) by 24.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 375,634 shares of the company’s stock after purchasing an additional 74,134 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.07% of Alight worth $2,126,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ALIT. Amalgamated Bank increased its position in Alight by 17.2% in the first quarter. Amalgamated Bank now owns 14,534 shares of the company’s stock worth $86,000 after purchasing an additional 2,133 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Alight during the 1st quarter valued at about $428,000. Principal Financial Group Inc. lifted its holdings in shares of Alight by 19.8% during the 1st quarter. Principal Financial Group Inc. now owns 27,821 shares of the company’s stock valued at $165,000 after purchasing an additional 4,594 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Alight by 13.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,707,547 shares of the company’s stock valued at $27,916,000 after purchasing an additional 551,755 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Alight during the 1st quarter valued at about $186,000. 96.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ALIT shares. UBS Group reduced their price target on Alight from $10.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Needham & Company LLC reduced their price target on Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, Wedbush reduced their price target on Alight from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alight has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Alight Trading Down 4.7%

Shares of Alight stock opened at $2.75 on Tuesday. Alight, Inc. has a 12-month low of $2.69 and a 12-month high of $8.93. The stock has a market cap of $1.48 billion, a P/E ratio of -1.24 and a beta of 1.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $3.33 and its 200-day moving average is $4.56.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $525.26 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. Equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

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.