Alight, Inc. (NYSE:ALIT) Stake Decreased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lessened its position in shares of Alight, Inc. (NYSE:ALIT) by 17.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,395,187 shares of the company’s stock after selling 4,530,826 shares during the period. Alight accounts for 2.0% of ArrowMark Colorado Holdings LLC’s investment portfolio, making the stock its 7th largest position. ArrowMark Colorado Holdings LLC owned about 3.92% of Alight worth $158,324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in shares of Alight by 65.3% during the 2nd 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 3rd quarter valued at about $74,000. KBC Group NV increased its position in shares of Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after buying an additional 2,331 shares during the period. FMR LLC lifted its holdings in shares of Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after buying an additional 3,689 shares in the last quarter. Finally, Ingalls & Snyder LLC boosted 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 acquiring an additional 2,235 shares during the period. 96.74% of the stock is owned by institutional investors.

Insider Transactions at Alight

In related news, insider Gregory A. George sold 84,929 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the sale, the insider now directly owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction on 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 sale, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.33% of the company’s stock.

Alight Stock Up 0.1 %

Shares of Alight stock opened at $8.00 on Monday. The company’s fifty day simple moving average is $7.41 and its two-hundred day simple moving average is $7.37. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

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

Alight Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Analyst Ratings Changes

ALIT has been the topic of a number of research analyst reports. Canaccord Genuity Group upped their target price on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research report on Tuesday, August 20th. Wedbush cut 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 upped their target price on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC increased their price target on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

About Alight

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.