Soros Fund Management LLC Makes New $89,000 Investment in Alight, Inc. (NYSE:ALIT)

Soros Fund Management LLC acquired a new position in shares of Alight, Inc. (NYSE:ALIT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,964 shares of the company’s stock, valued at approximately $89,000.

A number of other large investors also recently added to or reduced their stakes in ALIT. Nisa Investment Advisors LLC grew its holdings 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. Oppenheimer & Co. Inc. purchased a new position in Alight during the third quarter worth about $74,000. KBC Group NV boosted its stake in Alight by 24.0% during the third 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 period. FMR LLC lifted its position in shares of Alight by 44.4% during the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares in the last quarter. Finally, Ingalls & Snyder LLC lifted its position in shares of Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after purchasing an additional 2,235 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Needham & Company LLC increased their price target on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research report on Tuesday, August 20th. Citigroup reduced their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Canaccord Genuity Group raised their target price on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, KeyCorp raised their target price on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Insider Transactions at Alight

In other Alight news, President Gregory R. Goff sold 250,000 shares of Alight stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the completion of the sale, the president now owns 852,694 shares in the company, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory A. George sold 84,929 shares of the business’s 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 sale, the insider now owns 223,327 shares of the company’s stock, valued at $1,697,285.20. The trade was a 27.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,334,929 shares of company stock valued at $43,895,460 in the last 90 days. 5.33% of the stock is currently owned by insiders.

Alight Stock Down 0.3 %

Shares of ALIT opened at $7.48 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The company’s 50 day simple moving average is $7.45 and its 200-day simple moving average is $7.36. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. Sell-side analysts expect that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.04 per share. 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.