Alberta Investment Management Corp Increases Position in Alight, Inc. $ALIT

Alberta Investment Management Corp increased its holdings in shares of Alight, Inc. (NYSE:ALIT) by 21.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,580,000 shares of the company’s stock after acquiring an additional 455,000 shares during the quarter. Alberta Investment Management Corp owned approximately 0.48% of Alight worth $8,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ALIT. EverSource Wealth Advisors LLC increased its position in shares of Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after purchasing an additional 3,138 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Alight by 4.7% during the second quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock worth $411,000 after buying an additional 3,295 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Alight by 68.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $46,000 after acquiring an additional 3,300 shares during the period. Winslow Asset Management Inc. boosted its stake in Alight by 21.7% in the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock valued at $110,000 after acquiring an additional 3,450 shares during the last quarter. Finally, Strs Ohio purchased a new position in Alight in the first quarter valued at approximately $25,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

ALIT has been the subject of a number of research reports. DA Davidson cut their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. KeyCorp decreased their price objective on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a report on Thursday, January 8th. UBS Group lowered their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, Bank of America assumed coverage on Alight in a research note on Tuesday. They set an “underperform” rating and a $1.40 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.98.

Alight Price Performance

ALIT opened at $1.33 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99. The company has a market cap of $706.49 million, a price-to-earnings ratio of -0.32 and a beta of 1.09. The stock has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $2.62. Alight, Inc. has a 12-month low of $1.26 and a 12-month high of $7.66.

Insider Buying and Selling at Alight

In other Alight news, Director Richard N. Massey bought 100,000 shares of the stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average cost of $2.33 per share, for a total transaction of $233,000.00. Following the completion of the acquisition, the director owned 100,000 shares of the company’s stock, valued at approximately $233,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kausik Rajgopal purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the purchase, the director directly owned 125,202 shares in the company, valued at $280,452.48. The trade was a 46.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 193,116 shares of company stock valued at $448,984. Corporate insiders own 1.93% of the company’s stock.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.