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

River Road Asset Management LLC increased its holdings in shares of Alight, Inc. (NYSE:ALIT) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,360,406 shares of the company’s stock after purchasing an additional 263,242 shares during the quarter. Alight accounts for 1.1% of River Road Asset Management LLC’s portfolio, making the stock its 28th biggest position. River Road Asset Management LLC’s holdings in Alight were worth $79,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fidelity National Financial Inc. increased its stake in Alight by 33.3% in the third quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock valued at $141,800,000 after purchasing an additional 5,000,000 shares in the last quarter. State Street Corp increased its stake in Alight by 616.8% in the second quarter. State Street Corp now owns 5,799,562 shares of the company’s stock valued at $39,147,000 after purchasing an additional 4,990,518 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Alight by 500.3% in the second quarter. Goldman Sachs Group Inc. now owns 5,138,530 shares of the company’s stock valued at $34,685,000 after purchasing an additional 4,282,526 shares in the last quarter. BlackRock Inc. increased its stake in Alight by 15.6% in the first quarter. BlackRock Inc. now owns 24,688,658 shares of the company’s stock valued at $227,383,000 after purchasing an additional 3,329,661 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Alight by 460.2% in the fourth quarter. Bank of America Corp DE now owns 3,907,792 shares of the company’s stock valued at $32,669,000 after purchasing an additional 3,210,216 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Price Performance

Shares of NYSE ALIT remained flat at $9.04 during mid-day trading on Wednesday. 2,763,883 shares of the stock were exchanged, 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. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $5.09 billion, a PE ratio of -16.44, a P/E/G ratio of 1.40 and a beta of 0.92. Alight, Inc. has a one year low of $6.33 and a one year high of $10.38.

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

Insider Transactions at Alight

In other news, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Alight news, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total value of $7,894,821.60. Following the transaction, the chief executive officer now directly owns 8,115,183 shares of the company’s stock, valued at approximately $771,753,903.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Katie J. Rooney sold 26,164 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total transaction of $234,167.80. Following the completion of the transaction, the insider now directly owns 2,963,694 shares in the company, valued at $26,525,061.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 550,129 shares of company stock worth $12,449,117. 3.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ALIT has been the subject of several recent analyst reports. Needham & Company LLC upped their target price on shares of 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 target price on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Wedbush increased their target price on shares of Alight from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. UBS Group increased their target price on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Citigroup restated a “buy” rating and set a $12.00 target price on shares of Alight in a report on Friday, January 5th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $12.71.

Alight 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.