UBS Group AG Sells 4,931,516 Shares of Alight, Inc. $ALIT

UBS Group AG lowered its position in Alight, Inc. (NYSE:ALIT) by 77.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,410,253 shares of the company’s stock after selling 4,931,516 shares during the period. UBS Group AG owned approximately 0.26% of Alight worth $2,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio bought a new stake in Alight in the first quarter worth about $25,000. Moss Adams Wealth Advisors LLC bought a new stake in Alight in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in Alight in the fourth quarter worth about $31,000. Finally, Danske Bank A S bought a new stake in Alight in the third quarter worth about $31,000. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Bank of America started coverage on shares of Alight in a research note on Tuesday, February 17th. They issued an “underperform” rating and a $1.40 price objective for the company. KeyCorp downgraded shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Needham & Company LLC downgraded shares of Alight from a “buy” rating to a “hold” rating in a research note on Thursday, February 19th. Weiss Ratings downgraded shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Alight has a consensus rating of “Hold” and a consensus target price of $3.56.

Alight Stock Performance

Alight stock opened at $0.81 on Tuesday. The company has a market capitalization of $435.08 million, a PE ratio of -0.14, a P/E/G ratio of 0.25 and a beta of 1.56. The company has a 50 day moving average price of $0.69 and a 200-day moving average price of $1.35. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.42 and a current ratio of 1.42. Alight, Inc. has a fifty-two week low of $0.48 and a fifty-two week high of $6.11.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $534.00 million for the quarter, compared to analyst estimates of $502.74 million. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. As a group, equities analysts forecast that Alight, Inc. will post 0.28 earnings per share for the current year.

Insider Transactions at Alight

In other Alight news, CEO Rohit Verma acquired 112,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $0.89 per share, with a total value of $99,680.00. Following the completion of the acquisition, the chief executive officer directly owned 1,134,883 shares in the company, valued at $1,010,045.87. This represents a 10.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.93% of the stock is currently owned by insiders.

Alight Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.