Alight, Inc. $ALIT Shares Purchased by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its stake in Alight by 17.9%, buying 1,102,802 shares to own 7,250,711 shares (about 1.34% of the company) valued at roughly $23.65 million.
• CEO Rohit Verma bought 100,000 shares at $0.77 each on Feb. 24, boosting his holding to 1,022,883 shares (a 10.84% increase); corporate insiders now own 1.93% of the stock.
• Analyst coverage is mixed with an average "Hold" rating and a consensus target of $3.56; ALIT trades near $0.93, has a market cap around $499 million, and a 52-week range of $0.65–$6.46.

Neuberger Berman Group LLC grew its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 17.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,250,711 shares of the company's stock after purchasing an additional 1,102,802 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.34% of Alight worth $23,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ALIT. Nomura Holdings Inc. purchased a new position in shares of Alight in the 2nd quarter valued at $32,050,000. Norges Bank purchased a new stake in Alight in the second quarter valued at $28,596,000. Man Group plc boosted its stake in Alight by 155.4% in the second quarter. Man Group plc now owns 3,830,799 shares of the company's stock valued at $21,682,000 after acquiring an additional 2,331,077 shares in the last quarter. Alberta Investment Management Corp acquired a new position in Alight in the second quarter valued at $12,028,000. Finally, Rubric Capital Management LP grew its holdings in shares of Alight by 10.8% during the second quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company's stock worth $111,089,000 after purchasing an additional 1,906,140 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Insider Buying and Selling at Alight

In other news, CEO Rohit Verma acquired 100,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of $0.77 per share, for a total transaction of $77,000.00. Following the transaction, the chief executive officer directly owned 1,022,883 shares in the company, valued at approximately $787,619.91. This represents a 10.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ALIT shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alight in a research report on Wednesday, January 21st. Wall Street Zen downgraded Alight from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. DA Davidson reduced their price objective on Alight from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. KeyCorp lowered shares of Alight from an "overweight" rating to a "sector weight" rating in a research report on Thursday, February 19th. Finally, Citigroup cut shares of Alight from a "buy" rating to a "neutral" rating and cut their target price for the company 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 assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $3.56.

Alight Stock Performance

NYSE ALIT opened at $0.93 on Friday. The firm has a market cap of $499.44 million, a P/E ratio of -0.16, a P/E/G ratio of 0.51 and a beta of 1.16. Alight, Inc. has a 52-week low of $0.65 and a 52-week high of $6.46. The business's 50-day moving average price is $1.42 and its 200 day moving average price is $2.36. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.90.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.18 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $654.30 million. On average, equities research analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

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.

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