Walleye Capital LLC Invests $5.06 Million in Alight, Inc. (NYSE:ALIT)

Walleye Capital LLC acquired a new position in Alight, Inc. (NYSE:ALIT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 684,233 shares of the company’s stock, valued at approximately $5,063,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ingalls & Snyder LLC grew its stake in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after acquiring an additional 2,235 shares during the last quarter. Amalgamated Bank grew its stake in shares of Alight by 16.2% in the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock worth $121,000 after acquiring an additional 2,289 shares during the last quarter. KBC Group NV grew its stake in shares of Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after acquiring an additional 2,331 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after acquiring an additional 3,689 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ALIT shares. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research report on Tuesday, August 20th. Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC raised their target price on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup reduced their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Wedbush reduced their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Insider Activity at Alight

In related news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the sale, the insider now directly owns 223,327 shares in the company, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by company insiders.

Alight Stock Up 0.1 %

Shares of NYSE ALIT opened at $8.00 on Monday. The stock has a market cap of $4.34 billion, a PE ratio of -16.67 and a beta of 0.87. The business has a fifty day moving average of $7.41 and a two-hundred day moving average of $7.37. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $538.39 million. During the same period last year, the business earned $0.07 earnings per share. The business’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts expect that Alight, Inc. will post 0.47 earnings per share for the current fiscal year.

Alight Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Alight Company 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.