Trexquant Investment LP Invests $1.04 Million in Alight, Inc. (NYSE:ALIT) (2024)

Posted by Defense World Staff on May 30th, 2024

Trexquant Investment LP acquired a new position in shares of Alight, Inc. (NYSE:ALIT – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 121,286 shares of the company’s stock, valued at approximately $1,035,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Alight by 86.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company’s stock valued at $86,000 after buying an additional 5,661 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Alight by 12.1% during the third quarter. Teacher Retirement System of Texas now owns 25,065 shares of the company’s stock worth $178,000 after purchasing an additional 2,697 shares during the period. Principal Financial Group Inc. lifted its position in shares of Alight by 39.0% during the third quarter. Principal Financial Group Inc. now owns 58,809 shares of the company’s stock worth $417,000 after purchasing an additional 16,507 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Alight by 14.3% in the third quarter. Arizona State Retirement System now owns 92,104 shares of the company’s stock valued at $653,000 after purchasing an additional 11,512 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Alight in the third quarter valued at approximately $504,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

ALIT opened at $7.63 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.61. Alight, Inc. has a one year low of $6.33 and a one year high of $10.38. The business’s 50-day simple moving average is $8.91 and its 200-day simple moving average is $8.68.

Alight (NYSE:ALIT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $816.00 million for the quarter, compared to analyst estimates of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. As a group, analysts forecast that Alight, Inc. will post 0.5 earnings per share for the current year.

Insider Activity at Alight

In related news, CEO Stephan Scholl sold 83,016 shares of the business’s 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 sale, the chief executive officer now directly owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alight news, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 8,115,183 shares in the company, valued at $771,753,903.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares in the company, valued at $28,394,945.80. The disclosure for this sale can be found here. Insiders have sold 543,029 shares of company stock valued at $12,385,217 in the last ninety days. Insiders own 3.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wedbush cut their target price on shares of Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC reduced their price objective on Alight from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group boosted their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. KeyCorp cut their price target on Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Finally, UBS Group lifted their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.00.

Get Our Latest Stock Analysis on ALIT

Alight 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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