UBS Group AG Cuts Holdings in Alight, Inc. $ALIT

UBS Group AG trimmed its holdings in shares of Alight, Inc. (NYSE:ALIT) by 77.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,410,253 shares of the company’s stock after selling 4,931,516 shares during the quarter. UBS Group AG’s holdings in Alight were worth $2,750,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Strs Ohio purchased a new position in Alight during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares during the last quarter. Danske Bank A S purchased a new position in Alight in the third quarter worth $31,000. Evergreen Capital Management LLC purchased a new position in Alight in the third quarter worth $35,000. Finally, Peapack Gladstone Financial Corp purchased a new position in Alight in the second quarter worth $64,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alight

In related news, CEO Rohit Verma acquired 112,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $0.89 per share, for a total transaction of $99,680.00. Following the completion of the purchase, the chief executive officer owned 1,134,883 shares of the company’s stock, valued at approximately $1,010,045.87. This represents a 10.95% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.93% of the company’s stock.

Alight Trading Down 0.5%

NYSE:ALIT opened at $0.81 on Tuesday. Alight, Inc. has a 12 month low of $0.48 and a 12 month high of $6.11. The firm has a fifty day simple moving average of $0.69 and a 200-day simple moving average of $1.35. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $435.08 million, a P/E ratio of -0.14, a PEG ratio of 0.25 and a beta of 1.56.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. The business had revenue of $534.00 million during the quarter, compared to the consensus estimate of $502.74 million. On average, equities research analysts anticipate that Alight, Inc. will post 0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALIT has been the topic of several analyst reports. DA Davidson cut their price target on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Needham & Company LLC lowered shares of Alight from a “buy” rating to a “hold” rating in a report on Thursday, February 19th. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Bank of America initiated coverage on shares of Alight in a report on Tuesday, February 17th. They issued an “underperform” rating and a $1.40 price target on the stock. Finally, Citigroup lowered shares of Alight from a “buy” rating to a “neutral” rating and cut their price target for the stock from $6.50 to $1.00 in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.56.

About Alight

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.