Bullseye Asset Management LLC Has $4.53 Million Position in Alight, Inc. (NYSE:ALIT) (2024)

Bullseye Asset Management LLC boosted its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 34.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 531,425 shares of the company's stock after purchasing an additional 135,000 shares during the quarter. Alight makes up 2.2% of Bullseye Asset Management LLC's investment portfolio, making the stock its 19th biggest holding. Bullseye Asset Management LLC owned approximately 0.10% of Alight worth $4,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ALIT. DekaBank Deutsche Girozentrale purchased a new position in shares of Alight in the 3rd quarter valued at about $52,000. First Horizon Advisors Inc. increased its holdings in shares of Alight by 38.9% in the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock valued at $58,000 after acquiring an additional 1,897 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Alight in the 3rd quarter valued at about $109,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Alight in the 3rd quarter valued at about $134,000. Finally, Saxon Interests Inc. purchased a new position in shares of Alight in the 4th quarter valued at about $145,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Stock Performance

Alight stock traded down $0.13 during mid-day trading on Friday, reaching $7.18. 4,649,921 shares of the company were exchanged, compared to its average volume of 6,504,581. Alight, Inc. has a twelve month low of $6.33 and a twelve month high of $10.38. The firm's 50-day simple moving average is $8.38 and its two-hundred day simple moving average is $8.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $4.03 billion, a PE ratio of -11.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting analysts' consensus estimates of $0.07. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. The company had revenue of $816.00 million during the quarter, compared to analysts' expectations of $832.41 million. Equities analysts predict that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ALIT shares. Needham & Company LLC dropped their price objective on Alight from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, May 9th. Wedbush decreased their target price on Alight from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, May 10th. Canaccord Genuity Group upped their target price on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. KeyCorp decreased their target price on Alight from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, May 9th. Finally, UBS Group upped their target price on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $12.00.

Read Our Latest Stock Analysis on Alight

Insiders Place Their Bets

In other Alight news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 8,198,199 shares of the company's stock, valued at approximately $80,424,332.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Katie J. Rooney sold 2,777 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the sale, the insider now directly owns 2,927,314 shares of the company's stock, valued at approximately $28,394,945.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephan Scholl sold 428,574 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the sale, the chief executive officer now directly owns 8,198,199 shares of the company's stock, valued at $80,424,332.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 516,865 shares of company stock valued at $12,151,049. 5.33% of the stock is owned by company insiders.

About Alight

(Free Report)

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.

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