Cannell & Co. Takes Position in Alight, Inc. (NYSE:ALIT)

Cannell & Co. acquired a new position in Alight, Inc. (NYSE:ALIT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 547,075 shares of the company’s stock, valued at approximately $4,667,000. Cannell & Co. owned about 0.10% of Alight as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Alight by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 34,651,300 shares of the company’s stock worth $245,678,000 after purchasing an additional 792,348 shares during the last quarter. Fidelity National Financial Inc. boosted its stake in Alight by 33.3% during the 3rd 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 during the period. River Road Asset Management LLC grew its holdings in Alight by 2.9% in the 4th quarter. River Road Asset Management LLC now owns 9,360,406 shares of the company’s stock valued at $79,844,000 after buying an additional 263,242 shares during the last quarter. Northern Trust Corp increased its position in Alight by 2.7% in the 3rd quarter. Northern Trust Corp now owns 3,660,868 shares of the company’s stock worth $25,956,000 after buying an additional 96,321 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in shares of Alight by 3.4% in the third quarter. Loomis Sayles & Co. L P now owns 3,306,359 shares of the company’s stock worth $23,442,000 after acquiring an additional 107,373 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. UBS Group lifted their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and issued a $12.00 price target on shares of Alight in a report on Friday, January 5th. Canaccord Genuity Group lifted 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. Finally, Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Alight in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $12.71.

Insider Transactions at Alight

In related news, insider Katie J. Rooney sold 7,100 shares of Alight stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the transaction, the insider now directly owns 2,999,434 shares of the company’s stock, valued at $26,994,906. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Katie J. Rooney sold 7,100 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katie J. Rooney sold 26,164 shares of the 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. Over the last quarter, insiders have sold 550,129 shares of company stock worth $12,449,117. Insiders own 3.96% of the company’s stock.

Alight Stock Down 0.4 %

NYSE:ALIT opened at $8.99 on Thursday. 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, Inc. has a 12 month low of $6.33 and a 12 month high of $10.38. The company’s 50-day moving average price is $9.26 and its two-hundred day moving average price is $8.50.

Alight (NYSE:ALIT) last announced its earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping the consensus estimate 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 business had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion. Equities analysts predict that Alight, Inc. will post 0.5 EPS for the current 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.