Saxon Interests Inc. Has $194,000 Stock Holdings in Alight, Inc. (NYSE:ALIT) (2024)

Saxon Interests Inc. increased its holdings in Alight, Inc. (NYSE:ALIT – Free Report) by 15.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 19,668 shares of the company’s stock after buying an additional 2,632 shares during the quarter. Saxon Interests Inc.’s holdings in Alight were worth $194,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ALIT. Invesco Ltd. grew its stake in Alight by 1.2% during the third quarter. Invesco Ltd. now owns 2,484,165 shares of the company’s stock worth $17,613,000 after buying an additional 29,149 shares during the last quarter. Northern Trust Corp grew its stake in shares of Alight by 2.7% during the third quarter. Northern Trust Corp now owns 3,660,868 shares of the company’s stock valued at $25,956,000 after purchasing an additional 96,321 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alight during the third quarter valued at approximately $109,000. Natixis Advisors L.P. grew its stake in shares of Alight by 81.0% during the third quarter. Natixis Advisors L.P. now owns 323,062 shares of the company’s stock valued at $2,290,000 after purchasing an additional 144,573 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Alight by 22.4% in the third quarter. Qube Research & Technologies Ltd now owns 525,991 shares of the company’s stock valued at $3,729,000 after buying an additional 96,107 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Price Performance

Shares of NYSE:ALIT opened at $7.09 on Wednesday. The firm has a 50 day moving average of $7.92 and a 200-day moving average of $8.63. The stock has a market capitalization of $3.98 billion, a PE ratio of -11.43, a PEG ratio of 1.45 and a beta of 0.87. 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 12 month low of $6.33 and a 12 month high of $10.38.

Alight (NYSE:ALIT – Get Free Report) last announced its quarterly 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. 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%. On average, equities research analysts predict that Alight, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at Alight

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 shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the sale, the chief executive officer now directly owns 8,115,183 shares of the company’s stock, valued at approximately $771,753,903.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. KeyCorp cut their target price on shares of Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Alight in a research report on Monday. Wedbush decreased their price objective on shares of Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Bank of America decreased their price objective on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Finally, DA Davidson reissued a “buy” rating and issued a $12.00 price objective on shares of Alight in a research report on Thursday, June 20th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $11.72.

Check Out Our Latest Research Report 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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