Janus Henderson Group PLC Boosts Stock Position in Alight, Inc. (NYSE:ALIT)

Janus Henderson Group PLC boosted its position in shares of Alight, Inc. (NYSE:ALIT) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,060,481 shares of the company’s stock after acquiring an additional 331,303 shares during the quarter. Janus Henderson Group PLC owned 3.39% of Alight worth $187,745,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Greenlight Capital Inc. acquired a new stake in Alight in the 4th quarter valued at about $78,831,000. Coronation Fund Managers Ltd. purchased a new position in Alight in the first quarter worth approximately $55,239,000. Norges Bank acquired a new position in Alight during the 4th quarter worth approximately $42,947,000. UBS Group AG increased its position in shares of Alight by 1,767.5% in the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock valued at $42,633,000 after purchasing an additional 4,730,410 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Alight by 33.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock valued at $103,826,000 after purchasing an additional 3,018,711 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Price Performance

Shares of ALIT traded up $0.05 during mid-day trading on Tuesday, hitting $7.65. The company’s stock had a trading volume of 2,992,473 shares, compared to its average volume of 6,219,792. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.61. Alight, Inc. has a 1-year low of $6.33 and a 1-year high of $10.38. The firm has a market capitalization of $4.30 billion, a P/E ratio of -12.40, a P/E/G ratio of 1.50 and a beta of 0.87. The firm has a 50-day simple moving average of $7.44 and a 200 day simple moving average of $8.47.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The firm had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $832.41 million. Analysts predict that Alight, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

ALIT has been the subject of several recent analyst reports. DA Davidson restated a “buy” rating and set a $12.00 target price on shares of Alight in a research note on Thursday, June 20th. KeyCorp reduced their price objective on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Wedbush dropped their target price on shares of Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Bank of America reduced their price target on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Alight in a report on Monday, July 1st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.61.

Insider Transactions at Alight

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $7.11, for a total value of $340,220.61. Following the sale, the chief operating officer now owns 2,880,753 shares of the company’s stock, valued at $20,482,153.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.33% of the company’s stock.

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.