Alight, Inc. (NYSE:ALIT) Shares Bought by Phocas Financial Corp.

Phocas Financial Corp. grew its position in shares of Alight, Inc. (NYSE:ALIT – Get Rating) by 35.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 514,835 shares of the company’s stock after purchasing an additional 135,555 shares during the quarter. Phocas Financial Corp.’s holdings in Alight were worth $4,304,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ALIT. Advisor Group Holdings Inc. boosted its position in shares of Alight by 65.8% in the first quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after acquiring an additional 1,875 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Alight in the first quarter worth approximately $121,000. Natixis Advisors L.P. boosted its position in shares of Alight by 20.1% in the first quarter. Natixis Advisors L.P. now owns 166,182 shares of the company’s stock worth $1,653,000 after acquiring an additional 27,810 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Alight in the first quarter worth approximately $129,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Alight in the first quarter worth approximately $569,000. 95.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ALIT shares. Wedbush started coverage on shares of Alight in a research report on Friday, December 9th. They issued an “outperform” rating and a $13.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Alight in a report on Monday, March 13th. Credit Suisse Group raised their price target on shares of Alight from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Alight from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, March 10th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $13.50.

Insider Activity

In other news, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of Alight stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $8.71, for a total transaction of $248,780,698.92. Following the sale, the insider now owns 57,028 shares in the company, valued at $496,713.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.96% of the company’s stock.

Alight Stock Performance

Shares of ALIT traded down $0.08 during mid-day trading on Friday, reaching $8.66. 5,289,950 shares of the stock traded hands, compared to its average volume of 5,759,530. The stock has a fifty day simple moving average of $9.30 and a 200 day simple moving average of $8.57. Alight, Inc. has a 12-month low of $6.31 and a 12-month high of $10.61. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

Alight Company Profile

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Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.