Wedge Capital Management L L P NC Trims Position in Alight, Inc. (NYSE:ALIT)

Wedge Capital Management L L P NC reduced its position in Alight, Inc. (NYSE:ALIT) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 615,941 shares of the company’s stock after selling 57,124 shares during the period. Wedge Capital Management L L P NC owned about 0.11% of Alight worth $5,254,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Alight during the 3rd quarter worth about $258,000. Corbyn Investment Management Inc. MD acquired a new stake in shares of Alight during the 3rd quarter worth $3,693,000. Bank of New York Mellon Corp raised its position in shares of Alight by 5.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,760,507 shares of the company’s stock worth $12,482,000 after buying an additional 97,751 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Alight by 41.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,185 shares of the company’s stock valued at $391,000 after acquiring an additional 16,294 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Alight by 6.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,348 shares of the company’s stock valued at $1,257,000 after acquiring an additional 10,829 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Canaccord Genuity Group raised their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Wedbush boosted their price objective on shares of Alight from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Needham & Company LLC raised their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. UBS Group upped their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Citigroup reiterated a “buy” rating and set a $12.00 target price on shares of Alight in a report on Friday, January 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $12.71.

Insider Activity at Alight

In related news, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the sale, the insider now directly owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephan Scholl sold 428,574 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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. Insiders sold a total of 550,129 shares of company stock valued at $12,449,117 over the last three months. 3.66% of the stock is owned by insiders.

Alight Trading Up 0.7 %

ALIT stock opened at $9.24 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a 50 day simple moving average of $9.31 and a 200-day simple moving average of $8.41. Alight, Inc. has a twelve month low of $6.33 and a twelve month high of $10.38.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $960.00 million during the quarter, compared to analyst estimates of $1.03 billion. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. As a group, sell-side analysts expect that Alight, Inc. will post 0.5 EPS for the current year.

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.