Innealta Capital LLC Buys Shares of 14,159 Alight, Inc. (NYSE:ALIT)

Innealta Capital LLC purchased a new position in shares of Alight, Inc. (NYSE:ALIT) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,159 shares of the company’s stock, valued at approximately $105,000.

Other large investors have also made changes to their positions in the company. Kinney Asset Management LLC lifted its position in shares of Alight by 2.5% during the 3rd quarter. Kinney Asset Management LLC now owns 6,247,546 shares of the company’s stock worth $46,232,000 after buying an additional 150,000 shares during the last quarter. US Bancorp DE grew its position in Alight by 3,543.6% in the third quarter. US Bancorp DE now owns 20,404 shares of the company’s stock valued at $151,000 after acquiring an additional 19,844 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Alight by 54.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company’s stock worth $85,000 after acquiring an additional 4,049 shares in the last quarter. Brighton Jones LLC acquired a new position in Alight during the third quarter worth about $1,861,000. Finally, Kirr Marbach & Co. LLC IN lifted its holdings in shares of Alight by 0.7% in the third quarter. Kirr Marbach & Co. LLC IN now owns 695,458 shares of the company’s stock worth $5,146,000 after acquiring an additional 4,920 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALIT. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research report on Tuesday, August 20th. KeyCorp dropped their price target on Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Wedbush cut their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Alight in a research report on Monday, September 30th. Finally, Citigroup cut their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

Alight Trading Down 1.9 %

Shares of ALIT stock opened at $6.80 on Monday. The stock has a 50-day moving average of $7.22 and a 200-day moving average of $7.51. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -15.45 and a beta of 0.87. Alight, Inc. has a 1-year low of $6.15 and a 1-year high of $10.38.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $787.00 million during the quarter, compared to analyst estimates of $791.22 million. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. On average, equities research analysts forecast that Alight, Inc. will post 0.42 earnings per share for the current 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.