430,139 Shares in Alight, Inc. (NYSE:ALIT) Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Alight, Inc. (NYSE:ALIT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 430,139 shares of the company’s stock, valued at approximately $4,237,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of Alight as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Greenlight Capital Inc. bought a new position in Alight in the fourth quarter valued at $78,831,000. Coronation Fund Managers Ltd. bought a new position in shares of Alight during the 1st quarter valued at about $55,239,000. Norges Bank bought a new position in shares of Alight during the 4th quarter valued at about $42,947,000. UBS Group AG lifted its position in Alight by 1,767.5% in the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock worth $42,633,000 after buying an additional 4,730,410 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Alight by 33.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after acquiring an additional 3,018,711 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

ALIT has been the topic of several recent research reports. Wedbush reduced their target price on shares of Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Bank of America decreased their price target on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. DA Davidson reiterated a “buy” rating and set a $12.00 target price on shares of Alight in a report on Thursday, June 20th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Alight in a research report on Monday, July 1st. Finally, KeyCorp dropped their price target on Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alight currently has an average rating of “Buy” and a consensus target price of $11.61.

Insider Activity

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the completion of the sale, the chief operating officer now directly owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.33% of the company’s stock.

Alight Stock Up 1.8 %

NYSE:ALIT opened at $7.47 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.57 and a current ratio of 1.57. Alight, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The firm has a 50-day simple moving average of $7.46 and a two-hundred day simple moving average of $8.49.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $816.00 million during the quarter, compared to the consensus estimate of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. On average, analysts forecast that Alight, Inc. will post 0.52 EPS for the current fiscal year.

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.