Saxon Interests Inc. Makes New Investment in Alight, Inc. (NYSE:ALIT)

Saxon Interests Inc. acquired a new position in Alight, Inc. (NYSE:ALIT) during the fourth quarter, Holdings Channel.com reports. The firm acquired 17,036 shares of the company’s stock, valued at approximately $145,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALIT. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Alight during the third quarter valued at $1,148,000. Natixis Advisors L.P. lifted its holdings in Alight by 81.0% during the third quarter. Natixis Advisors L.P. now owns 323,062 shares of the company’s stock valued at $2,290,000 after purchasing an additional 144,573 shares in the last quarter. Walleye Capital LLC lifted its holdings in Alight by 229.8% during the third quarter. Walleye Capital LLC now owns 281,509 shares of the company’s stock valued at $1,996,000 after purchasing an additional 196,160 shares in the last quarter. Tudor Investment Corp Et Al lifted its holdings in Alight by 387.1% during the third quarter. Tudor Investment Corp Et Al now owns 385,382 shares of the company’s stock valued at $2,732,000 after purchasing an additional 306,257 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Alight in the third quarter worth about $52,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

ALIT has been the topic of several research reports. Wedbush raised their price target on shares of Alight from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Canaccord Genuity Group increased their price target on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Canaccord Genuity Group assumed coverage on shares of Alight in a research report on Wednesday, December 6th. They set a “buy” rating and a $12.00 price target on the stock. Citigroup reiterated a “buy” rating and issued a $12.00 price objective on shares of Alight in a report on Friday, January 5th. Finally, UBS Group upped their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.71.

Alight Trading Up 0.5 %

ALIT traded up $0.05 during mid-day trading on Friday, hitting $9.84. 6,931,246 shares of the stock were exchanged, compared to its average volume of 5,454,491. The firm’s fifty day moving average is $9.21 and its two-hundred day moving average is $8.14. Alight, Inc. has a 1-year low of $6.33 and a 1-year high of $10.38. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The company has a market cap of $5.54 billion, a PE ratio of -17.89, a PEG ratio of 1.51 and a beta of 0.90.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $960.00 million for 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%. Equities analysts forecast that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Alight

In other Alight news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the sale, the chief executive officer now owns 8,198,199 shares of the company’s stock, valued at approximately $80,424,332.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the transaction, 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 document filed with the SEC, which is available at this hyperlink. Also, insider Katie J. Rooney sold 26,164 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total value of $234,167.80. Following the transaction, the insider now owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The disclosure for this sale can be found here. Insiders have sold 464,336 shares of company stock valued at $4,527,359 in the last quarter. Corporate insiders own 3.96% of the company’s stock.

Alight 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.