Goldman Sachs Group Inc. grew its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 25.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,505,079 shares of the company's stock after purchasing an additional 1,128,049 shares during the quarter. Goldman Sachs Group Inc. owned about 1.00% of Alight worth $46,958,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ALIT. Xponance Inc. increased its stake in shares of Alight by 5.7% in the 4th quarter. Xponance Inc. now owns 25,035 shares of the company's stock worth $214,000 after acquiring an additional 1,353 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Alight by 38.9% in the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock worth $58,000 after acquiring an additional 1,897 shares in the last quarter. FourThought Financial Partners LLC increased its stake in shares of Alight by 10.2% in the 4th quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company's stock worth $236,000 after acquiring an additional 2,552 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Alight by 6.8% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 60,768 shares of the company's stock worth $518,000 after acquiring an additional 3,856 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in Alight by 18.3% during the 4th quarter. Neuberger Berman Group LLC now owns 28,359 shares of the company's stock valued at $242,000 after purchasing an additional 4,385 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, insider Katie J. Rooney sold 2,777 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.70, for a total value of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares of the company's stock, valued at $28,394,945.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alight news, insider Katie J. Rooney sold 2,777 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the sale, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephan Scholl sold 83,016 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. UBS Group increased their price objective on shares of Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Needham & Company LLC cut their price objective on shares of Alight from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 9th. Canaccord Genuity Group increased their price objective on shares of Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Wedbush cut their price objective on shares of Alight from $14.00 to $12.00 and set an "outperform" rating on the stock in a research report on Friday, May 10th. Finally, KeyCorp cut their price objective on shares of Alight from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Thursday, May 9th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $12.00.
Read Our Latest Stock Report on ALIT
Alight Stock Performance
Shares of NYSE ALIT traded up $0.17 during trading on Thursday, reaching $7.54. 3,489,180 shares of the company traded hands, compared to its average volume of 6,444,676. The firm has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $8.67. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.23 billion, a PE ratio of -12.13, a P/E/G ratio of 1.21 and a beta of 0.88. Alight, Inc. has a 52-week low of $6.33 and a 52-week high of $10.38.
Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.07. The company had revenue of $816.00 million for the quarter, compared to the consensus estimate of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. Equities research analysts anticipate that Alight, Inc. will post 0.52 earnings per share for the current year.
Alight Profile
(Free Report)
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.
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