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

Goldman Sachs Group Inc. raised its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,505,079 shares of the company's stock after purchasing an additional 1,128,049 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.00% of Alight worth $46,958,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in Alight by 38.9% in the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock valued at $58,000 after purchasing an additional 1,897 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Alight in the third quarter valued at approximately $52,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alight in the third quarter valued at approximately $109,000. Saxon Interests Inc. acquired a new stake in shares of Alight in the fourth quarter valued at approximately $145,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Alight in the third quarter valued at approximately $134,000. 96.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alight

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

Alight Stock Up 1.5 %

NYSE:ALIT opened at $7.37 on Thursday. The stock has a 50 day simple moving average of $8.29 and a 200 day simple moving average of $8.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57. Alight, Inc. has a 1-year low of $6.33 and a 1-year high of $10.38.

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

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on Alight

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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