FourThought Financial Partners LLC Purchases 2,552 Shares of Alight, Inc. (NYSE:ALIT)

FourThought Financial Partners LLC raised its position in shares of Alight, Inc. (NYSE:ALIT) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,673 shares of the company’s stock after acquiring an additional 2,552 shares during the period. FourThought Financial Partners LLC’s holdings in Alight were worth $236,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Xponance Inc. lifted its stake in shares of Alight by 5.7% in the fourth quarter. Xponance Inc. now owns 25,035 shares of the company’s stock valued at $214,000 after buying an additional 1,353 shares during the period. First Horizon Advisors Inc. lifted its stake in Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after purchasing an additional 1,897 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Alight by 13.7% during the third quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company’s stock worth $123,000 after purchasing an additional 2,082 shares during the period. Teacher Retirement System of Texas lifted its stake in Alight by 12.1% during the third quarter. Teacher Retirement System of Texas now owns 25,065 shares of the company’s stock worth $178,000 after purchasing an additional 2,697 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alight by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,077 shares of the company’s stock worth $512,000 after purchasing an additional 4,892 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Alight Trading Up 1.4 %

ALIT stock traded up $0.13 during midday trading on Monday, reaching $9.43. The company’s stock had a trading volume of 2,139,460 shares, compared to its average volume of 6,280,719. Alight, Inc. has a 52 week low of $6.33 and a 52 week high of $10.38. The stock has a market cap of $5.31 billion, a PE ratio of -17.11, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $9.27 and its 200-day simple moving average is $8.54.

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

Insider Buying and Selling at Alight

In other Alight news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the sale, the insider now directly owns 2,963,694 shares in the company, 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 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 transaction of $234,167.80. Following the transaction, the insider now directly owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephan Scholl sold 428,574 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the transaction, the chief executive officer now owns 8,198,199 shares in the company, valued at $80,424,332.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 543,029 shares of company stock worth $12,385,217. Insiders own 3.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALIT shares. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Alight in a report on Thursday, April 25th. Needham & Company LLC raised their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Canaccord Genuity Group raised their price target on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, UBS Group raised their price target on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alight presently has an average rating of “Buy” and a consensus price target of $12.71.

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.