Cwm LLC Increases Stock Position in Alight, Inc. $ALIT

Key Points

• Cwm LLC increased its stock position in Alight, Inc. by 2,141.6% in Q2, acquiring a total of 114,410 shares worth $648,000.
• Several hedge funds have also adjusted their stakes, with Amalgamated Bank and Caitong International Asset Management making notable increases in their holdings during the first quarter.
• Alight's stock has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $8.75, despite some analysts lowering their price objectives significantly.

Cwm LLC raised its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 2,141.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,410 shares of the company's stock after buying an additional 109,306 shares during the period. Cwm LLC's holdings in Alight were worth $648,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Amalgamated Bank raised its stake in Alight by 17.2% during the 1st quarter. Amalgamated Bank now owns 14,534 shares of the company's stock valued at $86,000 after buying an additional 2,133 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Alight by 82.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after purchasing an additional 2,348 shares in the last quarter. Winslow Asset Management Inc. increased its stake in shares of Alight by 18.6% in the 1st quarter. Winslow Asset Management Inc. now owns 15,905 shares of the company's stock worth $94,000 after purchasing an additional 2,500 shares in the last quarter. Strs Ohio purchased a new stake in shares of Alight in the 1st quarter worth $25,000. Finally, Wedge Capital Management L L P NC increased its stake in shares of Alight by 0.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 663,665 shares of the company's stock worth $3,756,000 after purchasing an additional 4,324 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Alight in a research note on Wednesday, October 8th. UBS Group reduced their price objective on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Needham & Company LLC reduced their price objective on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, Wedbush reduced their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $8.75.

Alight Trading Up 1.1%

Shares of Alight stock opened at $3.10 on Friday. The company has a market capitalization of $1.67 billion, a P/E ratio of -1.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. The company has a fifty day moving average of $3.45 and a 200 day moving average of $4.67. Alight, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. Alight's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, sell-side analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight 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.

Want to see what other hedge funds are holding ALIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alight, Inc. (NYSE:ALIT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.