Aristotle Capital Boston LLC Boosts Stock Holdings in Alight, Inc. $ALIT

Key Points

• Aristotle Capital Boston LLC increased its stake in Alight by 64.7% in Q3 to 3,161,157 shares (about 0.59% of the company) valued at roughly $10.3 million.
• CEO Rohit Verma bought 112,000 shares at $0.89 on March 12, raising his holdings to 1,134,883 shares (a 10.95% increase); insiders now own about 1.93% of the stock.
• Equity analysts have trimmed ratings recently and the consensus is a "Hold" with an average target of $3.56; Alight missed quarterly EPS estimates and the stock trades near $0.92 with a market cap around $491 million.

Aristotle Capital Boston LLC raised its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 64.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,161,157 shares of the company's stock after acquiring an additional 1,241,326 shares during the period. Aristotle Capital Boston LLC owned approximately 0.59% of Alight worth $10,305,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Strs Ohio bought a new position in shares of Alight during the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in shares of Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company's stock valued at $29,000 after purchasing an additional 3,138 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Alight in the third quarter worth about $35,000. Vestmark Advisory Solutions Inc. bought a new stake in shares of Alight in the third quarter worth about $37,000. Finally, Nicolet Advisory Services LLC bought a new stake in shares of Alight in the third quarter worth about $40,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Insider Activity

In related news, CEO Rohit Verma bought 112,000 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $0.89 per share, for a total transaction of $99,680.00. Following the acquisition, the chief executive officer owned 1,134,883 shares in the company, valued at $1,010,045.87. This trade represents a 10.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.93% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. KeyCorp lowered Alight from an "overweight" rating to a "sector weight" rating in a research note on Thursday, February 19th. Needham & Company LLC downgraded Alight from a "buy" rating to a "hold" rating in a research note on Thursday, February 19th. Citigroup cut Alight from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $6.50 to $1.00 in a report on Friday, February 20th. Wall Street Zen lowered shares of Alight from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Finally, DA Davidson cut their target price on shares of Alight from $6.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. 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, Alight has a consensus rating of "Hold" and an average target price of $3.56.

Alight Stock Up 1.3%

Shares of NYSE:ALIT opened at $0.92 on Friday. 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 company has a 50-day moving average price of $1.32 and a 200 day moving average price of $2.26. The company 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.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results 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 positive return on equity of 9.61% and a negative net margin of 136.91%.The company had revenue of $653.00 million during the quarter, compared to analysts' expectations of $654.30 million. As a group, equities research analysts predict 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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