Loomis Sayles & Co. L P Sells 794,715 Shares of Alight, Inc. (NYSE:ALIT)

Loomis Sayles & Co. L P lessened its stake in Alight, Inc. (NYSE:ALIT) by 21.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,937,596 shares of the company’s stock after selling 794,715 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Alight were worth $21,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. 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 valued at $95,000 after acquiring an additional 2,235 shares during the period. Amalgamated Bank raised its holdings in Alight by 16.2% during the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock worth $121,000 after purchasing an additional 2,289 shares during the last quarter. KBC Group NV raised its holdings in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after purchasing an additional 2,331 shares during the last quarter. Nisa Investment Advisors LLC lifted 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 purchasing an additional 2,961 shares during the period. Finally, Pekin Hardy Strauss Inc. boosted its stake in shares of Alight by 7.4% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 57,750 shares of the company’s stock valued at $426,000 after purchasing an additional 4,000 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Performance

NYSE ALIT opened at $8.02 on Wednesday. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $7.36 and its 200-day moving average is $7.35.

Alight (NYSE:ALIT) last posted 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 analysts’ expectations of $538.39 million. During the same period in the prior year, the business earned $0.07 EPS. Alight’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts anticipate that Alight, Inc. will post 0.47 earnings per share for the current fiscal year.

Alight Announces Dividend

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

Insider Buying and Selling

In related news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the sale, the insider now owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALIT shares. Canaccord Genuity Group boosted their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp upped their target price on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC raised their price target on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wedbush dropped their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Alight has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Alight Company 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.