Seelaus Asset Management LLC Sells 39,485 Shares of Alight, Inc. (NYSE:ALIT)

Seelaus Asset Management LLC reduced its stake in shares of Alight, Inc. (NYSE:ALIT) by 72.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the company’s stock after selling 39,485 shares during the quarter. Seelaus Asset Management LLC’s holdings in Alight were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its position in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after buying an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Alight during the 3rd quarter valued at approximately $74,000. KBC Group NV raised its holdings in shares of Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in shares of Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in shares of Alight during the second quarter valued at $105,000. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 2.0 %

Shares of Alight stock opened at $7.73 on Friday. Alight, Inc. has a 1-year low of $6.15 and a 1-year high of $10.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.37 and a current ratio of 1.30. The stock’s 50 day simple moving average is $7.28 and its 200-day simple moving average is $7.41.

Alight (NYSE:ALIT) last issued its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same period last year, the company earned $0.07 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts anticipate that Alight, Inc. will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

The business also recently declared a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALIT. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a research report on Tuesday, August 20th. KeyCorp upped their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday. Needham & Company LLC lifted their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup reduced their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Canaccord Genuity Group upped their target price on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Insider Transactions at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the transaction, the director now owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.33% of the company’s stock.

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.