Highland Peak Capital LLC Purchases Shares of 718,200 Alight, Inc. (NYSE:ALIT)

Highland Peak Capital LLC acquired a new position in Alight, Inc. (NYSE:ALIT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 718,200 shares of the company’s stock, valued at approximately $5,315,000. Alight accounts for approximately 2.3% of Highland Peak Capital LLC’s portfolio, making the stock its 11th largest holding.

Several other large investors also recently added to or reduced their stakes in ALIT. Intech Investment Management LLC purchased a new position in Alight in the third quarter valued at about $795,000. Corbyn Investment Management Inc. MD boosted its position in shares of Alight by 4.2% during the 3rd quarter. Corbyn Investment Management Inc. MD now owns 714,823 shares of the company’s stock worth $5,290,000 after purchasing an additional 28,704 shares during the period. Swiss National Bank lifted its stake in Alight by 5.0% in the third quarter. Swiss National Bank now owns 792,100 shares of the company’s stock worth $5,862,000 after acquiring an additional 38,000 shares during the last quarter. KBC Group NV increased its holdings in shares of Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in Alight in the third quarter valued at about $74,000. 96.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the transaction, the insider now directly owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. The trade was a 27.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. The trade was a 84.99 % decrease in their position. The disclosure for this sale can be found here. 5.33% of the stock is owned by company insiders.

Alight Stock Down 0.4 %

NYSE:ALIT opened at $7.75 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average price of $7.31 and a 200 day moving average price of $7.37. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38.

Alight (NYSE:ALIT) last released its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The firm’s revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. As a group, equities research analysts anticipate that Alight, Inc. will post 0.42 EPS for the current year.

Alight Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Needham & Company LLC increased their price target on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research report on Tuesday, August 20th. KeyCorp lifted their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Wedbush reduced their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup decreased their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Alight currently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

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.