Corsair Capital Management L.P. trimmed its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 932,743 shares of the company's stock after selling 150,000 shares during the period. Alight makes up 2.6% of Corsair Capital Management L.P.'s investment portfolio, making the stock its 13th biggest holding. Corsair Capital Management L.P. owned approximately 0.17% of Alight worth $7,956,000 as of its most recent SEC filing.
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A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Alight by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 34,651,300 shares of the company's stock valued at $245,678,000 after buying an additional 792,348 shares in the last quarter. Fidelity National Financial Inc. boosted its holdings in Alight by 11.5% in the 4th quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company's stock valued at $190,219,000 after purchasing an additional 2,300,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Alight by 33.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company's stock valued at $103,826,000 after purchasing an additional 3,018,711 shares during the period. River Road Asset Management LLC boosted its holdings in Alight by 2.9% in the 4th quarter. River Road Asset Management LLC now owns 9,360,406 shares of the company's stock valued at $79,844,000 after purchasing an additional 263,242 shares during the period. Finally, Norges Bank bought a new position in Alight in the 4th quarter valued at $42,947,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.
Alight Trading Down 0.9 %
Shares of Alight stock traded down $0.07 during trading on Friday, hitting $7.50. The stock had a trading volume of 1,940,075 shares, compared to its average volume of 6,391,867. The firm's fifty day simple moving average is $8.58 and its 200-day simple moving average is $8.70. The stock has a market cap of $4.21 billion, a PE ratio of -12.10, a PEG ratio of 1.28 and a beta of 0.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57. Alight, Inc. has a 12 month low of $6.33 and a 12 month high of $10.38.
Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $816.00 million during the quarter, compared to analyst estimates of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. As a group, sell-side analysts expect that Alight, Inc. will post 0.5 EPS for the current fiscal year.
Insider Activity at Alight
In other Alight news, insider Katie J. Rooney sold 2,777 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now 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 is available at the SEC website. In other Alight news, insider Katie J. Rooney sold 2,777 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now 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 is available at the SEC website. Also, CEO Stephan Scholl sold 83,016 shares of the firm's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The disclosure for this sale can be found here. Insiders sold 516,865 shares of company stock worth $12,151,049 in the last 90 days. 3.96% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. KeyCorp cut their price target on shares of Alight from $12.00 to $11.00 and set an "overweight" rating for the company in a report on Thursday, May 9th. 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. 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. Wedbush cut their price target on shares of Alight from $14.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, May 10th. Finally, Needham & Company LLC dropped their price objective on shares of Alight from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 9th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $12.00.
View Our Latest Stock Report on ALIT
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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Want to see what other hedge funds are holding ALIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alight, Inc. (NYSE:ALIT - Free Report).
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