Alight, Inc. (NYSE:ALIT) Shares Bought by River Road Asset Management LLC

River Road Asset Management LLC raised its holdings in Alight, Inc. (NYSE:ALIT) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,988,254 shares of the company’s stock after purchasing an additional 286,133 shares during the period. River Road Asset Management LLC owned about 1.83% of Alight worth $73,913,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Alight by 8.1% during the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after acquiring an additional 2,842,454 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Alight by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after acquiring an additional 3,342,413 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Alight by 1.8% during the first quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock valued at $187,745,000 after acquiring an additional 331,303 shares during the period. Wolf Hill Capital Management LP raised its stake in shares of Alight by 28.4% during the first quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock valued at $109,309,000 after purchasing an additional 2,454,870 shares in the last quarter. Finally, Rubric Capital Management LP bought a new stake in shares of Alight during the second quarter valued at about $62,162,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALIT. KeyCorp cut their price objective on shares of Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Citigroup dropped their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wedbush dropped their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research note on Tuesday, August 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Alight in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Alight presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.

Alight Trading Down 1.0 %

NYSE:ALIT opened at $6.73 on Tuesday. The stock has a market cap of $3.68 billion, a PE ratio of -15.30 and a beta of 0.87. The stock’s 50-day moving average is $7.21 and its two-hundred day moving average is $7.48. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $787.00 million during the quarter, compared to analysts’ expectations of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. As a group, equities research analysts forecast that Alight, Inc. will post 0.42 earnings per share for the current fiscal year.

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.