DAVENPORT & Co LLC Cuts Stock Holdings in Alight, Inc. (NYSE:ALIT)

DAVENPORT & Co LLC lowered its stake in shares of Alight, Inc. (NYSE:ALITFree Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,029,697 shares of the company’s stock after selling 294,927 shares during the quarter. DAVENPORT & Co LLC’s holdings in Alight were worth $102,984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in Alight by 6.4% in the third quarter. Tower Research Capital LLC TRC now owns 17,748 shares of the company’s stock valued at $130,000 after buying an additional 1,071 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Alight by 1.3% in the first quarter. Ensign Peak Advisors Inc now owns 93,130 shares of the company’s stock valued at $858,000 after buying an additional 1,200 shares during the last quarter. Royal Bank of Canada increased its holdings in Alight by 36.8% in the third quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock valued at $47,000 after buying an additional 1,720 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in Alight by 65.8% in the first quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock valued at $47,000 after buying an additional 1,875 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Alight by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 138,658 shares of the company’s stock valued at $1,159,000 after buying an additional 1,978 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Insider Transactions at Alight

In other Alight news, insider Katie J. Rooney sold 7,100 shares of Alight stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the sale, the insider now owns 2,999,434 shares of the company’s stock, valued at approximately $26,994,906. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the sale, the insider now owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katie J. Rooney sold 7,100 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $9.00, for a total transaction of $63,900.00. Following the sale, the insider now directly owns 2,999,434 shares of the company’s stock, valued at $26,994,906. The disclosure for this sale can be found here. Over the last quarter, insiders sold 467,113 shares of company stock worth $4,554,296. Company insiders own 3.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup reissued a “buy” rating and issued a $12.00 target price on shares of Alight in a report on Friday, January 5th. Needham & Company LLC increased their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Wedbush increased their target price on Alight from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Canaccord Genuity Group initiated coverage on Alight in a report on Wednesday, December 6th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, UBS Group raised their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $12.71.

View Our Latest Stock Analysis on ALIT

Alight Stock Performance

Shares of ALIT traded down $0.21 during mid-day trading on Tuesday, hitting $9.44. 6,521,970 shares of the company’s stock were exchanged, compared to its average volume of 7,535,987. Alight, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The firm has a market capitalization of $5.31 billion, a P/E ratio of -17.16, a P/E/G ratio of 1.52 and a beta of 0.92. The business’s 50 day moving average is $9.26 and its two-hundred day moving average is $8.19. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58.

Alight (NYSE:ALITGet Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. The business had revenue of $960.00 million during the quarter, compared to the consensus estimate of $1.03 billion. On average, equities analysts expect that Alight, Inc. will post 0.5 earnings per share for the current year.

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.

Further Reading

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Institutional Ownership by Quarter for Alight (NYSE:ALIT)

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