Goldman Sachs Group Inc. Raises Stock Position in Alight, Inc. (NYSE:ALIT) (2024)

Posted by Defense World Staff on Jun 20th, 2024

Goldman Sachs Group Inc. increased its holdings in shares of Alight, Inc. (NYSE:ALIT – Free Report) by 25.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,505,079 shares of the company’s stock after purchasing an additional 1,128,049 shares during the period. Goldman Sachs Group Inc. owned approximately 1.00% of Alight worth $46,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Bullseye Asset Management LLC raised its holdings in shares of Alight by 34.1% during the fourth quarter. Bullseye Asset Management LLC now owns 531,425 shares of the company’s stock worth $4,533,000 after purchasing an additional 135,000 shares during the last quarter. Owls Nest Partners IA LLC purchased a new position in shares of Alight during the fourth quarter worth $597,000. Palogic Value Management L.P. raised its holdings in shares of Alight by 12.5% during the fourth quarter. Palogic Value Management L.P. now owns 225,000 shares of the company’s stock worth $1,919,000 after purchasing an additional 25,000 shares during the last quarter. Glenview Capital Management LLC raised its holdings in shares of Alight by 11.2% during the fourth quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company’s stock worth $155,263,000 after purchasing an additional 1,835,481 shares during the last quarter. Finally, Greenlight Capital Inc. purchased a new position in shares of Alight during the fourth quarter worth $78,831,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

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

Read Our Latest Stock Report on ALIT

Insider Activity

In related news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now directly owns 2,927,314 shares in the company, valued at $28,394,945.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now directly owns 2,927,314 shares in the company, valued at $28,394,945.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the transaction, the chief executive officer now owns 8,115,183 shares in the company, valued at $771,753,903.30. The disclosure for this sale can be found here. Company insiders own 5.33% of the company’s stock.

Alight Stock Up 1.5 %

Shares of NYSE ALIT opened at $7.37 on Thursday. The company’s 50-day simple moving average is $8.29 and its 200-day simple moving average is $8.68. Alight, Inc. has a 52-week low of $6.33 and a 52-week high of $10.38. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -11.89, a price-to-earnings-growth ratio of 1.19 and a beta of 0.88. 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 (NYSE:ALIT – Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) 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 analyst estimates of $832.41 million. Equities analysts predict that Alight, Inc. will post 0.52 EPS for the current fiscal year.

About Alight

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