Philosophy Capital Management LLC Decreases Holdings in Alight, Inc. (NYSE:ALIT)

Philosophy Capital Management LLC trimmed its holdings in Alight, Inc. (NYSE:ALIT) by 3.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,710,304 shares of the company’s stock after selling 117,963 shares during the quarter. Alight accounts for about 2.2% of Philosophy Capital Management LLC’s holdings, making the stock its 9th biggest holding. Philosophy Capital Management LLC’s holdings in Alight were worth $27,456,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Alight in the third quarter worth about $74,000. FMR LLC increased its stake in shares of Alight by 44.4% in the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares in the last quarter. KBC Group NV boosted its position in shares of Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after purchasing an additional 2,331 shares during the period. Finally, Ingalls & Snyder LLC grew its position in shares of Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after purchasing an additional 2,235 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Trading Down 1.4 %

NYSE:ALIT opened at $7.90 on Wednesday. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of -16.45 and a beta of 0.92. The company’s 50 day moving average is $7.43 and its 200-day moving average is $7.36. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a 12 month low of $6.15 and a 12 month high of $10.38.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The firm had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same period last year, the company earned $0.07 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts anticipate that Alight, Inc. will post 0.47 EPS for the current year.

Alight Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the completion of the sale, the president now owns 852,694 shares in the company, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gregory A. George sold 84,929 shares of the business’s 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 owns 223,327 shares in the company, valued at $1,697,285.20. The trade was a 27.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,334,929 shares of company stock valued at $43,895,460 over the last 90 days. 5.33% of the stock is owned by corporate insiders.

About Alight

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.