Pekin Hardy Strauss Inc. Buys 4,000 Shares of Alight, Inc. (NYSE:ALIT)

Pekin Hardy Strauss Inc. raised its stake in Alight, Inc. (NYSE:ALIT) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,750 shares of the company’s stock after buying an additional 4,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Alight were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Alight by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after buying an additional 3,342,413 shares during the last quarter. Qsemble Capital Management LP grew its position in shares of Alight by 26.2% in the 2nd quarter. Qsemble Capital Management LP now owns 88,053 shares of the company’s stock valued at $650,000 after buying an additional 18,294 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Alight in the 2nd quarter valued at about $174,000. Headlands Technologies LLC acquired a new position in shares of Alight in the 2nd quarter valued at about $251,000. Finally, Corbyn Investment Management Inc. MD lifted its stake in shares of Alight by 8.6% in the 2nd quarter. Corbyn Investment Management Inc. MD now owns 686,119 shares of the company’s stock valued at $5,064,000 after purchasing an additional 54,204 shares during the period. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ALIT shares. Bank of America dropped their price objective on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Needham & Company LLC dropped their price objective on Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Citigroup dropped their price objective on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, August 20th. Finally, KeyCorp dropped their price target on Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Alight Stock Down 1.0 %

Shares of Alight stock opened at $7.21 on Wednesday. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The business has a 50 day moving average price of $7.18 and a 200-day moving average price of $7.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $787.00 million during the quarter, compared to the consensus estimate of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. Equities research analysts predict that Alight, Inc. will post 0.42 earnings per share for the current year.

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 value of $340,220.61. Following the completion of the sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at $20,482,153.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.