Littlejohn & Co. LLC Acquires 93,500 Shares of Alight, Inc. (NYSE:ALIT)

Littlejohn & Co. LLC lifted its holdings in Alight, Inc. (NYSE:ALIT) by 6.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,450,859 shares of the company’s stock after purchasing an additional 93,500 shares during the period. Alight makes up 5.4% of Littlejohn & Co. LLC’s holdings, making the stock its 6th biggest holding. Littlejohn & Co. LLC’s holdings in Alight were worth $10,736,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ALIT. Wedge Capital Management L L P NC grew its position in shares of Alight by 15.1% during the second quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after buying an additional 76,485 shares in the last quarter. Highland Peak Capital LLC acquired a new position in Alight during the 3rd quarter worth approximately $5,315,000. Victory Capital Management Inc. increased its position in shares of Alight by 28.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after purchasing an additional 1,358,020 shares during the last quarter. River Road Asset Management LLC raised its holdings in shares of Alight by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after purchasing an additional 286,133 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Alight by 13.9% in the 2nd quarter. Rhumbline Advisers now owns 757,020 shares of the company’s stock valued at $5,587,000 after purchasing an additional 92,235 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ALIT. Citigroup lowered their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wedbush dropped their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC raised their target price on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp upped their price target on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group raised their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.95.

Insiders Place Their Bets

In other news, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the sale, the insider now directly owns 223,327 shares in the company, valued at $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 sale, the director now owns 883,323 shares in the company, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by company insiders.

Alight Trading Up 1.3 %

Shares of ALIT opened at $7.98 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The firm has a 50-day simple moving average of $7.34 and a 200-day simple moving average of $7.35.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Equities analysts forecast that Alight, Inc. will post 0.47 EPS for the current year.

Alight Announces Dividend

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

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.