Wexford Capital LP Acquires 83,822 Shares of Alight, Inc. (NYSE:ALIT)

Wexford Capital LP raised its holdings in Alight, Inc. (NYSE:ALIT) by 320.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,000 shares of the company’s stock after purchasing an additional 83,822 shares during the quarter. Wexford Capital LP’s holdings in Alight were worth $814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in shares of Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Alight during the 3rd quarter worth approximately $74,000. Soros Fund Management LLC bought a new stake in Alight during the third quarter worth about $89,000. FMR LLC boosted its position in shares of Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after acquiring an additional 3,689 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Buying and Selling at Alight

In other news, President Gregory R. Goff sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the president now directly owns 852,694 shares of the company’s stock, valued at $6,821,552. This represents a 22.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 in the company, 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. In the last quarter, insiders have sold 5,334,929 shares of company stock worth $43,895,460. 5.33% of the stock is owned by corporate insiders.

Alight Stock Down 0.4 %

Shares of ALIT stock opened at $7.50 on Friday. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $7.45 and a two-hundred day simple moving average of $7.36.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. Alight’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 earnings per share. On average, research analysts expect that Alight, Inc. will post 0.47 EPS for the current year.

Alight Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Analysts Set New Price Targets

Several analysts have recently weighed in on ALIT shares. Needham & Company LLC lifted their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. downgraded 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. Citigroup cut their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wedbush cut their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group increased their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

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.