Alight, Inc. (NYSE:ALIT) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC decreased its holdings in shares of Alight, Inc. (NYSE:ALIT) by 9.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 369,122 shares of the company’s stock after selling 36,351 shares during the period. Redwood Investment Management LLC’s holdings in Alight were worth $2,680,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Walleye Capital LLC acquired a new stake in shares of Alight during the third quarter worth about $5,063,000. Wedge Capital Management L L P NC increased its stake in shares of Alight by 15.1% in the second quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after acquiring an additional 76,485 shares during the period. Highland Peak Capital LLC purchased a new position in shares of Alight during the third quarter worth $5,315,000. Victory Capital Management Inc. lifted its position in Alight by 28.3% during the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after purchasing an additional 1,358,020 shares during the period. Finally, River Road Asset Management LLC boosted its holdings in Alight by 2.9% in the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after purchasing an additional 286,133 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Trading Down 4.8 %

ALIT stock opened at $7.52 on Thursday. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. The company’s 50 day moving average is $7.44 and its two-hundred day moving average is $7.36. 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 posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 earnings per share. As a group, equities research analysts expect that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on ALIT. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a report on Tuesday, August 20th. Canaccord Genuity Group raised their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup decreased their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. KeyCorp raised their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Wedbush cut their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Insider Activity

In related news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction on 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 sale, the president now owns 852,694 shares in the company, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. Company insiders own 5.33% of the company’s stock.

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.