Corbyn Investment Management Inc. MD Has $5.42 Million Stock Holdings in Alight, Inc. (NYSE:ALIT)

Corbyn Investment Management Inc. MD lifted its position in Alight, Inc. (NYSE:ALIT) by 21.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 634,914 shares of the company’s stock after purchasing an additional 114,097 shares during the period. Alight makes up about 2.6% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 13th largest holding. Corbyn Investment Management Inc. MD’s holdings in Alight were worth $5,416,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bailard Inc. acquired a new position in shares of Alight during the fourth quarter valued at about $264,000. Handelsbanken Fonder AB increased its stake in Alight by 67.1% during the fourth quarter. Handelsbanken Fonder AB now owns 54,800 shares of the company’s stock valued at $467,000 after acquiring an additional 22,000 shares during the period. Cornerstone Investment Partners LLC raised its holdings in Alight by 53.8% in the 4th quarter. Cornerstone Investment Partners LLC now owns 34,509 shares of the company’s stock valued at $294,000 after acquiring an additional 12,070 shares in the last quarter. Xponance Inc. grew its holdings in shares of Alight by 5.7% during the 4th quarter. Xponance Inc. now owns 25,035 shares of the company’s stock worth $214,000 after purchasing an additional 1,353 shares in the last quarter. Finally, River Road Asset Management LLC increased its position in shares of Alight by 2.9% during the fourth quarter. River Road Asset Management LLC now owns 9,360,406 shares of the company’s stock valued at $79,844,000 after purchasing an additional 263,242 shares during the period. 96.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares in the company, valued at $28,394,945.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alight news, CEO Stephan Scholl sold 428,574 shares of Alight stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The disclosure for this sale can be found here. In the last three months, insiders sold 550,129 shares of company stock valued at $12,449,117. 3.96% of the stock is currently owned by insiders.

Alight Price Performance

ALIT stock traded up $0.07 during midday trading on Friday, reaching $9.18. 540,030 shares of the company’s stock traded hands, compared to its average volume of 6,471,329. Alight, Inc. has a 1-year low of $6.33 and a 1-year high of $10.38. The company has a 50-day simple moving average of $9.29 and a two-hundred day simple moving average of $8.42. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The company has a market cap of $5.17 billion, a price-to-earnings ratio of -16.55, a PEG ratio of 1.78 and a beta of 0.92.

Alight (NYSE:ALIT) last announced 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 for the quarter, compared to analyst estimates of $1.03 billion. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. On average, analysts anticipate that Alight, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALIT shares. Canaccord Genuity Group raised 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. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Alight in a research note on Thursday. 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 note on Thursday, March 21st. Citigroup reiterated a “buy” rating and issued a $12.00 price target on shares of Alight in a research report on Friday, January 5th. Finally, UBS Group lifted their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target 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.