VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.34 Million in Alight, Inc. $ALIT

Key Points

• Virginia Retirement Systems invested approximately $2.34 million in Alight, Inc. by purchasing 413,600 shares during the second quarter.
• Institutional investors and hedge funds collectively own 96.74% of Alight's stock, indicating strong institutional interest.
• The stock currently has a consensus rating of Moderate Buy among analysts, with a consensus price target of $8.75.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 413,600 shares of the company's stock, valued at approximately $2,341,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Alight as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of ALIT. American Century Companies Inc. lifted its holdings in shares of Alight by 50.4% during the first quarter. American Century Companies Inc. now owns 6,920,646 shares of the company's stock worth $41,039,000 after purchasing an additional 2,319,685 shares during the period. Nuveen LLC bought a new position in Alight during the first quarter worth $11,707,000. Dimensional Fund Advisors LP raised its stake in Alight by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company's stock worth $146,173,000 after buying an additional 1,930,440 shares during the last quarter. Vanguard Group Inc. raised its stake in Alight by 3.8% during the first quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company's stock worth $251,606,000 after buying an additional 1,548,078 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Alight by 70.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,734,557 shares of the company's stock worth $15,915,000 after buying an additional 1,126,650 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Wall Street Analyst Weigh In

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

Alight Trading Up 2.8%

NYSE:ALIT opened at $3.10 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -1.40 and a beta of 1.02. The firm has a fifty day simple moving average of $3.48 and a two-hundred day simple moving average of $4.69. Alight, Inc. has a 12 month low of $2.91 and a 12 month high of $8.93.

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

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