Alight, Inc. $ALIT Holdings Decreased by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 99.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,329 shares of the company's stock after selling 6,286,566 shares during the quarter. DAVENPORT & Co LLC's holdings in Alight were worth $308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio bought a new stake in shares of Alight during the first quarter valued at about $25,000. CWM LLC raised its position in Alight by 364.8% in the first quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after acquiring an additional 4,006 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after acquiring an additional 2,348 shares in the last quarter. GAMMA Investing LLC raised its position in Alight by 5,505.8% in the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after acquiring an additional 7,653 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Alight in the first quarter worth about $52,000. 96.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ALIT. UBS Group dropped their price target on shares of Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Needham & Company LLC dropped their price target on shares of Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alight in a research report on Wednesday, October 8th. Finally, Wedbush dropped their price target on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.75.

Alight Trading Down 0.5%

NYSE:ALIT opened at $3.05 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16. Alight, Inc. has a fifty-two week low of $2.98 and a fifty-two week high of $8.93. The stock's 50-day moving average is $3.64 and its two-hundred day moving average is $4.81. The stock has a market cap of $1.64 billion, a PE ratio of -1.38 and a beta of 1.02.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company had revenue of $528.00 million for the quarter, compared to analysts' expectations of $525.26 million. During the same quarter in the previous year, the business posted $0.05 EPS. The business's revenue for the quarter was down 1.9% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, equities research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. Alight's payout ratio is -7.24%.

Alight Company 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.

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