Alight, Inc. (NYSE:ALIT) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in shares of Alight, Inc. (NYSE:ALIT) by 15.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 584,574 shares of the company’s stock after acquiring an additional 76,485 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Alight were worth $4,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Xponance Inc. lifted its holdings in shares of Alight by 5.7% in the 4th quarter. Xponance Inc. now owns 25,035 shares of the company’s stock valued at $214,000 after buying an additional 1,353 shares during the period. First Horizon Advisors Inc. raised its holdings in Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after purchasing an additional 1,897 shares during the last quarter. FourThought Financial Partners LLC raised its holdings in Alight by 10.2% during the fourth quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company’s stock worth $236,000 after purchasing an additional 2,552 shares during the last quarter. Saxon Interests Inc. raised its holdings in Alight by 15.4% during the first quarter. Saxon Interests Inc. now owns 19,668 shares of the company’s stock worth $194,000 after purchasing an additional 2,632 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in Alight by 6.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 60,768 shares of the company’s stock worth $518,000 after purchasing an additional 3,856 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Up 2.4 %

NYSE ALIT traded up $0.17 on Thursday, hitting $6.97. 4,075,423 shares of the stock traded hands, compared to its average volume of 6,191,341. The stock has a 50-day moving average of $7.22 and a 200 day moving average of $8.33. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. The company has a market capitalization of $3.91 billion, a P/E ratio of -11.23, a price-to-earnings-growth ratio of 1.35 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALIT shares. Wedbush reduced their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. KeyCorp reduced their price objective on Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Needham & Company LLC reduced their price objective on Alight from $11.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Bank of America dropped their price target on Alight from $10.00 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Finally, DA Davidson reissued a “buy” rating and issued a $12.00 price target on shares of Alight in a report on Thursday, June 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alight has a consensus rating of “Buy” and an average price target of $11.17.

Insider Transactions at Alight

In other news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the sale, the chief operating officer now directly owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.33% of the company’s stock.

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.