River Road Asset Management LLC Purchases 263,242 Shares of Alight, Inc. (NYSE:ALIT)

River Road Asset Management LLC raised its position in shares of Alight, Inc. (NYSE:ALIT) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,360,406 shares of the company’s stock after purchasing an additional 263,242 shares during the period. Alight comprises 1.1% of River Road Asset Management LLC’s portfolio, making the stock its 28th biggest position. River Road Asset Management LLC owned 1.69% of Alight worth $79,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALIT. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Alight by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,077 shares of the company’s stock valued at $512,000 after acquiring an additional 4,892 shares during the period. Strs Ohio increased its holdings in shares of Alight by 30.6% in the 4th quarter. Strs Ohio now owns 24,300 shares of the company’s stock valued at $207,000 after acquiring an additional 5,700 shares during the period. Arizona State Retirement System increased its holdings in shares of Alight by 5.6% in the 4th quarter. Arizona State Retirement System now owns 97,284 shares of the company’s stock valued at $830,000 after acquiring an additional 5,180 shares during the period. Saxon Interests Inc. purchased a new position in Alight during the 4th quarter worth $145,000. Finally, SG Americas Securities LLC grew its stake in Alight by 89.5% during the 4th quarter. SG Americas Securities LLC now owns 69,007 shares of the company’s stock worth $589,000 after buying an additional 32,591 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Insider Buying and Selling at Alight

In related news, insider Katie J. Rooney sold 26,164 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total value of $234,167.80. Following the completion of the sale, the insider now owns 2,963,694 shares of the company’s stock, valued at $26,525,061.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at $771,753,903.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Katie J. Rooney sold 26,164 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total value of $234,167.80. Following the transaction, the insider now owns 2,963,694 shares of the company’s stock, valued at $26,525,061.30. The disclosure for this sale can be found here. Insiders sold 550,129 shares of company stock valued at $12,449,117 over the last quarter. 3.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ALIT has been the topic of several research analyst reports. UBS Group boosted their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Needham & Company LLC boosted their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Canaccord Genuity Group boosted their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Wedbush boosted their target price on Alight from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Finally, Citigroup restated a “buy” rating and set a $12.00 target price on shares of Alight in a research note on Friday, January 5th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.71.

Alight Price Performance

ALIT remained flat at $9.04 on Wednesday. The company’s stock had a trading volume of 2,763,883 shares, compared to its average volume of 6,838,184. The firm’s fifty day moving average is $9.32 and its 200-day moving average is $8.33. Alight, Inc. has a 12 month low of $6.33 and a 12 month high of $10.38. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -16.44, a PEG ratio of 1.40 and a beta of 0.92.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. The company had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. As a group, equities analysts forecast that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

Alight Company 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.