Quadrature Capital Ltd Sells 143,018 Shares of Alight, Inc. (NYSE:ALIT)

Quadrature Capital Ltd reduced its stake in shares of Alight, Inc. (NYSE:ALIT) by 79.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,001 shares of the company’s stock after selling 143,018 shares during the quarter. Quadrature Capital Ltd’s holdings in Alight were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ALIT. Ingalls & Snyder LLC boosted its position in Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after buying an additional 2,235 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Alight by 16.2% during the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after acquiring an additional 2,289 shares during the period. KBC Group NV boosted its holdings in Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the period. Finally, FMR LLC lifted its position in Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after purchasing an additional 3,689 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insiders Place Their Bets

In other Alight news, Director William P. Foley II sold 5,000,000 shares of the company’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 sale, the director now owns 883,323 shares in the company, valued at $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory A. George sold 84,929 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the transaction, the insider now directly owns 223,327 shares in the company, valued at $1,697,285.20. The trade was a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALIT shares. Needham & Company LLC boosted their price target on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group increased their price target on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Citigroup cut their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.83.

Alight Stock Down 1.9 %

Alight stock opened at $7.36 on Wednesday. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $7.46 and a 200-day moving average of $7.34. The stock has a market capitalization of $4.00 billion, a PE ratio of -15.33 and a beta of 0.91.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The firm 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 business’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 EPS. On average, equities research analysts anticipate that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

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

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.