Owls Nest Partners IA LLC Acquires New Stake in Alight, Inc. (NYSE:ALIT) (2024)

Posted by Defense World Staff on Jun 15th, 2024

Owls Nest Partners IA LLC acquired a new stake in Alight, Inc. (NYSE:ALIT – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,000 shares of the company’s stock, valued at approximately $597,000. Alight accounts for 0.2% of Owls Nest Partners IA LLC’s investment portfolio, making the stock its 14th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of ALIT. DekaBank Deutsche Girozentrale acquired a new stake in Alight during the 3rd quarter worth about $52,000. First Horizon Advisors Inc. grew its holdings in Alight by 38.9% during the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after acquiring an additional 1,897 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alight during the 3rd quarter worth about $109,000. Sherbrooke Park Advisers LLC acquired a new stake in Alight during the 3rd quarter worth about $134,000. Finally, Saxon Interests Inc. acquired a new stake in Alight during the 4th quarter worth about $145,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Trading Down 1.8 %

Shares of NYSE ALIT opened at $7.18 on Friday. Alight, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. The firm’s 50-day simple moving average is $8.38 and its 200 day simple moving average is $8.67.

Alight (NYSE:ALIT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The business had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $832.41 million. As a group, research analysts forecast that Alight, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALIT. Wedbush cut their price objective on shares of Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. UBS Group increased their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Canaccord Genuity Group increased their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. KeyCorp cut their price objective on shares of Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Finally, Needham & Company LLC cut their price objective on shares of Alight from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $12.00.

Check Out Our Latest Analysis on Alight

Insider Activity at Alight

In other Alight news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the sale, the chief executive officer now owns 8,198,199 shares in the company, valued at approximately $80,424,332.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alight news, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the completion of the sale, the chief executive officer now owns 8,198,199 shares of the company’s stock, valued at approximately $80,424,332.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 516,865 shares of company stock valued at $12,151,049. 5.33% of the stock is owned by corporate insiders.

Alight Company Profile

(Free Report)

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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