Pekin Hardy Strauss Inc. Sells 39,900 Shares of Alight, Inc. (NYSE:ALIT)

Pekin Hardy Strauss Inc. cut its stake in Alight, Inc. (NYSE:ALIT) by 69.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,850 shares of the company’s stock after selling 39,900 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Alight were worth $132,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC boosted its position in shares of Alight by 15.1% during 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 buying an additional 76,485 shares during the period. Highland Peak Capital LLC acquired a new position in Alight during the 3rd quarter worth approximately $5,315,000. Victory Capital Management Inc. grew its stake in shares of Alight by 28.3% during the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock worth $45,465,000 after acquiring an additional 1,358,020 shares in the last quarter. River Road Asset Management LLC raised its holdings in shares of 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. Finally, Rhumbline Advisers lifted its position in shares of Alight by 13.9% in the second quarter. Rhumbline Advisers now owns 757,020 shares of the company’s stock worth $5,587,000 after purchasing an additional 92,235 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. KeyCorp lifted their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. 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. Needham & Company LLC raised their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group boosted their price target on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Alight currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Alight Stock Up 1.4 %

ALIT stock opened at $8.09 on Tuesday. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The company has a fifty day moving average price of $7.36 and a two-hundred day moving average price of $7.35. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. Alight’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 EPS. Equities analysts anticipate that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Announces Dividend

The company also recently declared 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.

Insider Activity at Alight

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

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.