Arizona State Retirement System Increases Holdings in Alight, Inc. (NYSE:ALIT)

Arizona State Retirement System grew its holdings in Alight, Inc. (NYSE:ALIT) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,284 shares of the company’s stock after acquiring an additional 5,180 shares during the period. Arizona State Retirement System’s holdings in Alight were worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. purchased a new position in shares of Alight in the first quarter valued at about $27,000. Royal Bank of Canada lifted its position in shares of Alight by 36.8% in the third quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock worth $47,000 after buying an additional 1,720 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Alight by 65.8% in the first quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after buying an additional 1,875 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Alight in the first quarter worth about $49,000. Finally, Lazard Asset Management LLC lifted its position in shares of Alight by 117.8% in the third quarter. Lazard Asset Management LLC now owns 7,318 shares of the company’s stock worth $51,000 after buying an additional 3,958 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Price Performance

Alight stock opened at $9.04 on Thursday. The business has a fifty day moving average of $9.32 and a two-hundred day moving average of $8.33. 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 firm has a market cap of $5.09 billion, a P/E ratio of -16.44, a P/E/G ratio of 1.40 and a beta of 0.92. Alight, Inc. has a twelve month low of $6.33 and a twelve month high of $10.38.

Alight (NYSE:ALIT) last posted its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $960.00 million during the quarter, compared to analyst estimates of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. On average, analysts forecast that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction 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 transaction, 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 SEC, which is available through this hyperlink. Also, insider Katie J. Rooney sold 7,100 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the transaction, the insider now directly owns 2,999,434 shares in the company, valued at $26,994,906. The disclosure for this sale can be found here. In the last quarter, insiders sold 550,129 shares of company stock worth $12,449,117. Insiders own 3.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wedbush boosted their target price on Alight from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and set a $12.00 target price on shares of Alight in a research note on Friday, January 5th. Canaccord Genuity Group boosted their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. UBS Group boosted their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Needham & Company LLC boosted their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average 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.