MQS Management LLC Takes Position in Alight, Inc. (NYSE:ALIT)

MQS Management LLC purchased a new stake in Alight, Inc. (NYSE:ALIT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,787 shares of the company’s stock, valued at approximately $124,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ingalls & Snyder LLC raised its position in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after purchasing an additional 2,235 shares during the period. Amalgamated Bank raised its position in shares of Alight by 16.2% in the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after purchasing an additional 2,289 shares during the period. Nisa Investment Advisors LLC raised its position 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 valued at $55,000 after purchasing an additional 2,961 shares during the period. Pekin Hardy Strauss Inc. increased its holdings in Alight by 7.4% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 57,750 shares of the company’s stock worth $426,000 after acquiring an additional 4,000 shares during the period. Finally, Xponance Inc. increased its holdings in Alight by 19.2% during the 2nd quarter. Xponance Inc. now owns 30,034 shares of the company’s stock worth $222,000 after acquiring an additional 4,839 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

NYSE:ALIT opened at $7.73 on Friday. The company has a fifty day moving average of $7.28 and a 200 day moving average of $7.41. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The company has a current ratio of 1.30, a quick ratio of 1.37 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. During the same period in the prior year, the business posted $0.07 EPS. The firm’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts predict that Alight, Inc. will post 0.42 earnings per share for the current fiscal year.

Alight Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently weighed in on ALIT shares. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a report on Tuesday, August 20th. Canaccord Genuity Group upped their target price on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup decreased their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. KeyCorp boosted their price target on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wedbush cut their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Alight currently has an average rating of “Moderate Buy” and an average price target of $10.95.

Insiders Place Their Bets

In related news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares in the company, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.33% of the company’s stock.

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.