Onex Canada Asset Management Inc. Sells 855,715 Shares of Alight, Inc. (NYSE:ALIT) (2024)

Onex Canada Asset Management Inc. trimmed its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 34.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,643,025 shares of the company's stock after selling 855,715 shares during the quarter. Alight accounts for 1.4% of Onex Canada Asset Management Inc.'s portfolio, making the stock its 22nd largest holding. Onex Canada Asset Management Inc. owned approximately 0.30% of Alight worth $14,015,000 as of its most recent SEC filing.

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Other institutional investors also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Alight during the third quarter valued at approximately $1,148,000. Natixis Advisors L.P. boosted its holdings in shares of Alight by 81.0% in the 3rd quarter. Natixis Advisors L.P. now owns 323,062 shares of the company's stock worth $2,290,000 after acquiring an additional 144,573 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Alight by 33.0% in the 4th 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. Walleye Capital LLC boosted its holdings in shares of Alight by 229.8% in the 3rd quarter. Walleye Capital LLC now owns 281,509 shares of the company's stock worth $1,996,000 after acquiring an additional 196,160 shares in the last quarter. Finally, Tudor Investment Corp Et Al boosted its holdings in shares of Alight by 387.1% in the 3rd quarter. Tudor Investment Corp Et Al now owns 385,382 shares of the company's stock worth $2,732,000 after acquiring an additional 306,257 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wedbush reduced their target price on Alight from $14.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, May 10th. Canaccord Genuity Group boosted their target price on Alight from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. UBS Group boosted their target price on Alight from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. 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 research report on Thursday, May 9th. Finally, KeyCorp dropped their price objective on shares of Alight from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, May 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alight presently has an average rating of "Buy" and a consensus target price of $12.00.

Alight Trading Down 1.6 %

Shares of Alight stock traded down $0.12 on Friday, hitting $7.19. 4,657,418 shares of the company's stock traded hands, compared to its average volume of 4,715,817. The firm's 50-day moving average price is $8.38 and its two-hundred day moving average price is $8.68. The stock has a market capitalization of $4.04 billion, a PE ratio of -11.60, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. Alight, Inc. has a one year low of $6.33 and a one year high of $10.38. 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 (NYSE:ALIT - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $816.00 million during the quarter, compared to analysts' expectations of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. On average, research analysts expect that Alight, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at Alight

In related news, CEO Stephan Scholl sold 428,574 shares of the company's stock in a transaction 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 owns 8,198,199 shares in the company, valued at approximately $80,424,332.19. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Katie J. Rooney sold 2,777 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the transaction, the insider now directly owns 2,927,314 shares of the company's stock, valued at approximately $28,394,945.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephan Scholl sold 428,574 shares of the company's stock in a transaction 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 transaction, 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. Insiders sold a total of 516,865 shares of company stock worth $12,151,049 in the last quarter. Corporate insiders own 5.33% of the company's stock.

Alight Profile

(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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