Comerica Bank Reduces Stock Position in Alight, Inc. (NYSE:ALIT) (2024)

Comerica Bank reduced its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 39.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 293,077 shares of the company's stock after selling 187,901 shares during the quarter. Comerica Bank owned 0.05% of Alight worth $2,887,000 at the end of the most recent reporting period.

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A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALIT. Xponance Inc. increased its holdings in Alight by 5.7% in the 4th quarter. Xponance Inc. now owns 25,035 shares of the company's stock worth $214,000 after purchasing an additional 1,353 shares in the last quarter. First Horizon Advisors Inc. increased its position in Alight by 38.9% during the 4th 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 during the period. FourThought Financial Partners LLC raised its holdings in Alight by 10.2% during the 4th quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company's stock worth $236,000 after purchasing an additional 2,552 shares during the last quarter. Saxon Interests Inc. lifted its position in shares of Alight by 15.4% in the 1st quarter. Saxon Interests Inc. now owns 19,668 shares of the company's stock worth $194,000 after purchasing an additional 2,632 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its stake in shares of Alight by 6.8% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 60,768 shares of the company's stock valued at $518,000 after purchasing an additional 3,856 shares during the last quarter. Institutional investors own 96.74% of the company's stock.

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Alight Price Performance

NYSE ALIT traded up $0.27 during trading hours on Wednesday, reaching $6.79. 7,415,169 shares of the stock traded hands, compared to its average volume of 6,262,521. The stock has a 50 day simple moving average of $7.32 and a two-hundred day simple moving average of $8.43. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -11.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.87.

Insider Transactions at Alight

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the company's stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. Following the completion of the sale, the chief operating officer now directly owns 2,880,753 shares in the company, valued at $20,482,153.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.33% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on ALIT. KeyCorp cut their target price on Alight from $11.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, July 11th. DA Davidson reissued a "buy" rating and set a $12.00 price objective on shares of Alight in a research report on Thursday, June 20th. Wedbush decreased their target price on Alight from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, May 10th. Needham & Company LLC cut their price target on Alight from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Bank of America reduced their price objective on Alight from $10.00 to $9.50 and set a "buy" rating for the company in a research note on Tuesday, June 25th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $11.39.

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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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