DAVENPORT & Co LLC Sells 294,927 Shares of Alight, Inc. (NYSE:ALIT)

DAVENPORT & Co LLC cut its position in shares of Alight, Inc. (NYSE:ALITFree Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,029,697 shares of the company’s stock after selling 294,927 shares during the period. DAVENPORT & Co LLC owned approximately 2.18% of Alight worth $102,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in shares of Alight by 6.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,748 shares of the company’s stock valued at $130,000 after purchasing an additional 1,071 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Alight by 1.3% in the 1st quarter. Ensign Peak Advisors Inc now owns 93,130 shares of the company’s stock valued at $858,000 after purchasing an additional 1,200 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Alight by 36.8% in the 3rd quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock valued at $47,000 after purchasing an additional 1,720 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Alight by 65.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock valued at $47,000 after purchasing an additional 1,875 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Alight by 1.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 138,658 shares of the company’s stock valued at $1,159,000 after purchasing an additional 1,978 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Trading Down 2.2 %

ALIT traded down $0.21 during trading on Tuesday, hitting $9.44. 6,521,970 shares of the stock were exchanged, compared to its average volume of 7,535,987. The firm has a 50 day simple moving average of $9.26 and a 200 day simple moving average of $8.19. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of -17.16, a P/E/G ratio of 1.52 and a beta of 0.92. Alight, Inc. has a 1 year low of $6.33 and a 1 year high of $10.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.27.

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

Wall Street Analyst Weigh In

ALIT has been the subject of several analyst reports. Needham & Company LLC raised their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Canaccord Genuity Group increased their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Canaccord Genuity Group started coverage on Alight in a report on Wednesday, December 6th. They issued a “buy” rating and a $12.00 price target on the stock. Citigroup reiterated a “buy” rating and issued a $12.00 price target on shares of Alight in a report on Friday, January 5th. Finally, UBS Group increased their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Alight presently has a consensus rating of “Buy” and an average price target of $12.71.

Get Our Latest Stock Report on Alight

Insiders Place Their Bets

In other news, insider Katie J. Rooney sold 26,164 shares of Alight 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 directly owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Katie J. Rooney sold 7,100 shares of Alight stock in a transaction 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 transaction, the insider now directly owns 2,999,434 shares in the company, valued at approximately $26,994,906. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the completion of the transaction, the insider now owns 2,963,694 shares in the company, valued at $26,525,061.30. The disclosure for this sale can be found here. Insiders have sold 467,113 shares of company stock worth $4,554,296 in the last ninety days. 3.66% of the stock is owned by company insiders.

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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