Aristotle Capital Boston LLC Buys 1,241,326 Shares of Alight, Inc. $ALIT

Aristotle Capital Boston LLC boosted its position in shares of Alight, Inc. (NYSE:ALIT) by 64.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,161,157 shares of the company’s stock after buying an additional 1,241,326 shares during the quarter. Aristotle Capital Boston LLC’s holdings in Alight were worth $10,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Alight by 289.1% in the third quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock valued at $45,345,000 after acquiring an additional 10,334,915 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Alight during the 2nd quarter worth about $32,050,000. Norges Bank purchased a new position in shares of Alight during the 2nd quarter worth about $28,596,000. Bridgeway Capital Management LLC bought a new position in Alight during the 3rd quarter valued at about $10,232,000. Finally, Squarepoint Ops LLC bought a new position in Alight during the 3rd quarter valued at about $8,063,000. Institutional investors own 96.74% of the company’s stock.

Alight Trading Up 1.3%

ALIT opened at $0.92 on Friday. The firm has a market cap of $491.21 million, a price-to-earnings ratio of -0.16, a PEG ratio of 0.50 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.90. Alight, Inc. has a 12 month low of $0.65 and a 12 month high of $6.39. The stock has a fifty day moving average price of $1.32 and a 200-day moving average price of $2.26.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Alight had a negative net margin of 136.91% and a positive return on equity of 9.61%. The company had revenue of $653.00 million for the quarter, compared to the consensus estimate of $654.30 million. As a group, equities research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Rohit Verma purchased 112,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $0.89 per share, with a total value of $99,680.00. Following the completion of the transaction, the chief executive officer owned 1,134,883 shares in the company, valued at $1,010,045.87. This represents a 10.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup lowered shares of Alight from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $6.50 to $1.00 in a research report on Friday, February 20th. Wall Street Zen cut Alight from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Needham & Company LLC downgraded Alight from a “buy” rating to a “hold” rating in a report on Thursday, February 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Finally, Bank of America began coverage on Alight in a research note on Tuesday, February 17th. They set an “underperform” rating and a $1.40 price target for the company. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Alight presently has an average rating of “Hold” and an average target price of $3.56.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.