Bullseye Asset Management LLC increased its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 531,425 shares of the company's stock after buying an additional 135,000 shares during the quarter. Alight makes up 2.2% of Bullseye Asset Management LLC's holdings, making the stock its 19th biggest position. Bullseye Asset Management LLC owned about 0.10% of Alight worth $4,533,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other hedge funds have also bought and sold shares of ALIT. DekaBank Deutsche Girozentrale bought a new position in shares of Alight in the 3rd quarter valued at $52,000. First Horizon Advisors Inc. increased its position in shares of Alight by 38.9% during the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock valued at $58,000 after purchasing an additional 1,897 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alight during the third quarter valued at $109,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Alight in the third quarter valued at $134,000. Finally, Saxon Interests Inc. bought a new position in Alight in the 4th quarter worth about $145,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ALIT has been the topic of a number of research reports. KeyCorp dropped their target price on shares of Alight from $12.00 to $11.00 and set an "overweight" rating on the stock in a report on Thursday, May 9th. Needham & Company LLC cut their price target on Alight from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, May 9th. UBS Group boosted their price target on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Canaccord Genuity Group raised their price target on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Finally, Wedbush dropped their target price on shares of Alight from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, May 10th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $12.00.
Check Out Our Latest Stock Analysis on ALIT
Alight Price Performance
Shares of ALIT traded down $0.13 during mid-day trading on Friday, hitting $7.18. The company's stock had a trading volume of 4,649,921 shares, compared to its average volume of 6,504,581. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -11.60, a PEG ratio of 1.27 and a beta of 0.88. Alight, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a 50-day moving average price of $8.42 and a 200 day moving average price of $8.68.
Alight (NYSE:ALIT - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The company had revenue of $816.00 million during the quarter, compared to analyst estimates of $832.41 million. On average, research analysts predict that Alight, Inc. will post 0.5 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Stephan Scholl sold 83,016 shares of Alight stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the sale, the chief executive officer now owns 8,115,183 shares of the company's stock, valued at approximately $771,753,903.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Stephan Scholl sold 83,016 shares of the firm's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at $771,753,903.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katie J. Rooney sold 2,777 shares of the business'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 completion of the transaction, the insider now directly owns 2,927,314 shares in the company, valued at $28,394,945.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,865 shares of company stock worth $12,151,049. Corporate insiders own 5.33% of the company's stock.
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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