Alight, Inc. (NYSE:ALIT) is Cannae Holdings Inc.’s 2nd Largest Position

Cannae Holdings Inc. cut its stake in shares of Alight, Inc. (NYSE:ALIT) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,477,062 shares of the company’s stock after selling 12,000,000 shares during the period. Alight accounts for about 22.9% of Cannae Holdings Inc.’s portfolio, making the stock its 2nd biggest position. Cannae Holdings Inc. owned about 0.07% of Alight worth $280,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. American Century Companies Inc. bought a new stake in Alight in the second quarter worth $174,000. Amalgamated Bank boosted its stake in shares of Alight by 16.2% during the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock worth $121,000 after purchasing an additional 2,289 shares during the period. Hsbc Holdings PLC grew its holdings in Alight by 41.8% during the 2nd quarter. Hsbc Holdings PLC now owns 60,965 shares of the company’s stock valued at $447,000 after purchasing an additional 17,958 shares during the last quarter. Xponance Inc. raised its position in Alight by 19.2% in the 2nd quarter. Xponance Inc. now owns 30,034 shares of the company’s stock worth $222,000 after purchasing an additional 4,839 shares during the period. Finally, Stanley Capital Management LLC boosted its position in shares of Alight by 8.7% during the second quarter. Stanley Capital Management LLC now owns 2,100,835 shares of the company’s stock valued at $15,504,000 after buying an additional 168,000 shares during the period. 96.74% of the stock is owned by institutional investors.

Insider Transactions at Alight

In other news, President Gregory R. Goff sold 250,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total value of $2,000,000.00. Following the sale, the president now owns 852,694 shares in the company, valued at $6,821,552. This represents a 22.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the sale, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,334,929 shares of company stock valued at $43,895,460 in the last quarter. 5.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on ALIT shares. Canaccord Genuity Group upped their price objective on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp upped their target price on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC lowered their price target on Alight from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Alight presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

Alight Stock Performance

Shares of NYSE ALIT opened at $6.82 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The stock’s fifty day simple moving average is $7.27 and its two-hundred day simple moving average is $7.22.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts expect that Alight, Inc. will post 0.47 EPS for the current year.

Alight Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.04 dividend. The ex-dividend date was Monday, December 2nd.

Alight Profile

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.