GABELLI & Co INVESTMENT ADVISERS INC. Purchases 60,450 Shares of Alight, Inc. (NYSE:ALIT)

GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Alight, Inc. (NYSE:ALIT) by 107.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,800 shares of the company’s stock after buying an additional 60,450 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Alight were worth $808,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares in the last quarter. State Street Corp increased its position in shares of Alight by 1.2% in the third quarter. State Street Corp now owns 11,905,766 shares of the company’s stock valued at $88,103,000 after acquiring an additional 141,828 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after acquiring an additional 1,996 shares in the last quarter. Barclays PLC boosted its position in Alight by 148.2% during the third quarter. Barclays PLC now owns 815,841 shares of the company’s stock valued at $6,037,000 after purchasing an additional 487,185 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Alight by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock worth $74,521,000 after purchasing an additional 77,948 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Insider Activity at Alight

In other Alight news, Director Robert A. Schriesheim bought 22,092 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 125,092 shares of company stock worth $807,755 in the last quarter. 5.33% of the stock is owned by insiders.

Alight Trading Up 3.0 %

Shares of ALIT opened at $5.11 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a 52-week low of $4.49 and a 52-week high of $9.45. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -17.03 and a beta of 0.97. The business’s fifty day moving average is $6.13 and its 200-day moving average is $6.82.

Alight (NYSE:ALIT) last issued its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. Equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Monday, March 3rd. Alight’s dividend payout ratio is currently -53.33%.

Wall Street Analysts Forecast Growth

ALIT has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Alight in a research report on Monday, March 24th. DA Davidson reaffirmed a “buy” rating and issued a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. Finally, Wedbush reissued an “outperform” rating and set a $11.00 price target on shares of Alight in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alight has a consensus rating of “Moderate Buy” and a consensus price target of $10.19.

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.