Saxon Interests Inc. Acquires Shares of 17,036 Alight, Inc. (NYSE:ALIT)

Saxon Interests Inc. acquired a new stake in Alight, Inc. (NYSE:ALIT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,036 shares of the company’s stock, valued at approximately $145,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALIT. Fidelity National Financial Inc. lifted its holdings in Alight by 33.3% during the 3rd quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock worth $141,800,000 after purchasing an additional 5,000,000 shares during the last quarter. State Street Corp lifted its holdings in Alight by 616.8% during the 2nd quarter. State Street Corp now owns 5,799,562 shares of the company’s stock worth $39,147,000 after purchasing an additional 4,990,518 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Alight by 500.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,138,530 shares of the company’s stock worth $34,685,000 after purchasing an additional 4,282,526 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in Alight by 17.8% during the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 27,767,012 shares of the company’s stock worth $256,567,000 after acquiring an additional 4,187,015 shares during the period. Finally, BlackRock Inc. increased its stake in Alight by 15.6% during the 1st quarter. BlackRock Inc. now owns 24,688,658 shares of the company’s stock worth $227,383,000 after acquiring an additional 3,329,661 shares during the period. Institutional investors own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ALIT. Needham & Company LLC raised their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Canaccord Genuity Group began coverage on Alight in a research note on Wednesday, December 6th. They set a “buy” rating and a $12.00 price objective on the stock. TheStreet upgraded Alight from a “d+” rating to a “c-” rating in a research note on Tuesday, December 12th. Citigroup restated a “buy” rating and set a $12.00 price objective on shares of Alight in a research note on Friday, January 5th. Finally, UBS Group lifted their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $12.71.

Alight Price Performance

ALIT stock traded up $0.05 during midday trading on Friday, reaching $9.84. 6,931,246 shares of the stock were exchanged, compared to its average volume of 5,454,491. The stock has a market capitalization of $5.54 billion, a PE ratio of -17.89, a P/E/G ratio of 1.51 and a beta of 0.90. Alight, Inc. has a 52 week low of $6.33 and a 52 week high of $10.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27. The company has a fifty day moving average price of $9.21 and a 200 day moving average price of $8.14.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. As a group, analysts expect that Alight, Inc. will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alight news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following the transaction, the insider now directly owns 2,963,694 shares of the company’s stock, valued at approximately $26,525,061.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Katie J. Rooney sold 7,100 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the transaction, the insider now directly owns 2,999,434 shares of the company’s stock, valued at approximately $26,994,906. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katie J. Rooney sold 26,164 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the completion of the transaction, the insider now directly owns 2,963,694 shares in the company, valued at $26,525,061.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,336 shares of company stock valued at $4,527,359. 3.96% of the stock is currently owned by company insiders.

Alight Company 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.