Bullseye Asset Management LLC Boosts Position in Alight, Inc. (NYSE:ALIT)

Bullseye Asset Management LLC raised its holdings in Alight, Inc. (NYSE:ALITFree Report) by 34.1% during the 4th quarter, Holdings Channel reports. The firm owned 531,425 shares of the company’s stock after buying an additional 135,000 shares during the quarter. Alight makes up about 2.2% of Bullseye Asset Management LLC’s holdings, making the stock its 19th largest holding. Bullseye Asset Management LLC’s holdings in Alight were worth $4,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Greenlight Capital Inc. acquired a new position in shares of Alight in the fourth quarter worth $78,831,000. Norges Bank acquired a new stake in Alight in the fourth quarter valued at about $42,947,000. UBS Group AG boosted its holdings in 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alight by 33.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock valued at $103,826,000 after acquiring an additional 3,018,711 shares during the period. Finally, Fidelity National Financial Inc. grew its stake in shares of Alight by 11.5% during the 4th quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock worth $190,219,000 after purchasing an additional 2,300,000 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Insider Transactions at Alight

In other news, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now directly owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alight news, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.70, for a total value of $26,936.90. Following the sale, the insider now owns 2,927,314 shares in the company, valued at $28,394,945.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the sale, the chief executive officer now owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The disclosure for this sale can be found here. In the last three months, insiders sold 516,865 shares of company stock worth $12,151,049. 5.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. UBS Group upped their target price on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. KeyCorp cut their price target on Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Wedbush dropped their target price on Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC lowered their price objective on shares of Alight from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $12.00.

View Our Latest Stock Report on ALIT

Alight Trading Down 1.8 %

Shares of Alight stock traded down $0.13 during trading on Friday, reaching $7.18. 4,649,921 shares of the company were exchanged, compared to its average volume of 6,504,581. The business has a 50-day moving average price of $8.42 and a 200-day moving average price of $8.68. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -11.60, a P/E/G ratio of 1.27 and a beta of 0.88. Alight, Inc. has a twelve month low of $6.33 and a twelve month high of $10.38.

Alight (NYSE:ALITGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. The firm had revenue of $816.00 million during the quarter, compared to the consensus estimate of $832.41 million. Sell-side analysts anticipate that Alight, Inc. will post 0.5 EPS for the current fiscal year.

Alight Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alight (NYSE:ALIT)

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