Alight, Inc. (NYSE:ALIT) Position Boosted by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC boosted its position in Alight, Inc. (NYSE:ALIT) by 53.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 34,509 shares of the company’s stock after purchasing an additional 12,070 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Alight were worth $294,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new stake in Alight in the first quarter worth approximately $27,000. Royal Bank of Canada lifted its position in Alight by 36.8% in the third quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock worth $47,000 after purchasing an additional 1,720 shares during the period. Advisor Group Holdings Inc. lifted its position in Alight by 65.8% in the first quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after purchasing an additional 1,875 shares during the period. Quantbot Technologies LP acquired a new stake in Alight in the first quarter worth approximately $49,000. Finally, Lazard Asset Management LLC lifted its position in Alight by 117.8% in the third quarter. Lazard Asset Management LLC now owns 7,318 shares of the company’s stock worth $51,000 after purchasing an additional 3,958 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Price Performance

Shares of NYSE ALIT traded up $0.09 during mid-day trading on Friday, reaching $9.10. The company had a trading volume of 1,177,965 shares, compared to its average volume of 6,722,261. Alight, Inc. has a twelve month low of $6.33 and a twelve month high of $10.38. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $9.32 and its 200-day moving average is $8.34.

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

Insider Transactions at Alight

In other Alight news, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alight news, insider Katie J. Rooney sold 26,164 shares of the company’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 sale, the insider now directly owns 2,963,694 shares in the company, valued at $26,525,061.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephan Scholl sold 83,016 shares of the company’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 sale, the chief executive officer now owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 550,129 shares of company stock valued at $12,449,117. 3.96% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on ALIT. UBS Group upped 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. Canaccord Genuity Group increased their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Citigroup reiterated a “buy” rating and set a $12.00 price objective on shares of Alight in a research report on Friday, January 5th. Wedbush increased their price objective on Alight from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Finally, Needham & Company LLC increased their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alight presently has a consensus rating of “Buy” and an average price target of $12.71.

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.