Vanguard Group Inc. has increased its stake in Alight, Inc. (NYSE: ALIT) by 8.1% in the first quarter, according to the latest 13F filing with the Securities and Exchange Commission (SEC). The firm now owns 38,041,368 shares of Alight, worth $374,707,000. This represents about 6.76% of the company’s total shares.
In addition to Vanguard Group Inc., several other hedge funds and institutional investors have made changes to their positions in ALIT. First Horizon Advisors Inc. saw a 38.9% increase in its stake, Motco acquired a new position, and Duality Advisers LP and Tokio Marine Asset Management Co. Ltd. also acquired new positions. Saxon Interests Inc. raised its stake by 15.4% in the first quarter. Overall, institutional investors and hedge funds own 96.74% of Alight’s stock.
There has been recent insider activity at Alight as well. COO Katie J. Rooney sold 47,851 shares of the company’s stock, totaling $340,220.61. This transaction was disclosed in a filing with the SEC. Currently, 5.33% of the stock is owned by corporate insiders.
Analysts have mixed ratings for ALIT, with various price targets and recommendations. Bank of America, Needham & Company LLC, Wedbush, DA Davidson, and KeyCorp have all issued ratings and price targets for the stock. The consensus rating for Alight is “Buy,” with a consensus price target of $11.61.
Alight’s stock performance has shown fluctuations, with a market cap of $4.30 billion and a PE ratio of -12.34. The company has a quick ratio of 1.57, a current ratio of 1.57, and a debt-to-equity ratio of 0.61. Alight last reported earnings on May 8th, meeting the consensus estimate of $0.07 earnings per share. Analysts expect the company to post 0.52 earnings per share for the current year.
Alight, Inc. provides cloud-based integrated digital human capital and business solutions globally. The company operates in two segments, Employer Solutions and Professional Services, offering a range of services including employee wellbeing, benefits administration, healthcare navigation, financial wellbeing, and more.
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