Wedge Capital Management L L P NC Has $5.25 Million Stake in Alight, Inc. (NYSE:ALIT)

Wedge Capital Management L L P NC cut its holdings in shares of Alight, Inc. (NYSE:ALIT) by 8.5% during the fourth quarter, Holdings Channel reports. The fund owned 615,941 shares of the company’s stock after selling 57,124 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Alight were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ALIT. Handelsbanken Fonder AB lifted its position in shares of Alight by 67.1% during the 4th quarter. Handelsbanken Fonder AB now owns 54,800 shares of the company’s stock worth $467,000 after buying an additional 22,000 shares during the last quarter. 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 buying an additional 12,070 shares during the last quarter. Xponance Inc. increased its position in Alight by 5.7% in the 4th quarter. Xponance Inc. now owns 25,035 shares of the company’s stock valued at $214,000 after acquiring an additional 1,353 shares during the period. River Road Asset Management LLC raised its stake 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 acquiring an additional 263,242 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alight by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,077 shares of the company’s stock worth $512,000 after purchasing an additional 4,892 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ALIT. Needham & Company LLC 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 increased their target price on shares of Alight from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. UBS Group boosted 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. Citigroup reiterated a “buy” rating and set a $12.00 price objective on shares of Alight in a research report on Friday, January 5th. Finally, Canaccord Genuity Group boosted their target price on shares of 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $12.71.

Alight Stock Up 0.7 %

Alight stock opened at $9.24 on Wednesday. The firm has a 50 day simple moving average of $9.31 and a 200 day simple moving average of $8.41. Alight, Inc. has a 1-year low of $6.33 and a 1-year 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.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $960.00 million during the quarter, compared to analyst estimates of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. On average, sell-side analysts expect that Alight, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at Alight

In other Alight news, insider Katie J. Rooney sold 7,100 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $9.00, for a total transaction of $63,900.00. Following the sale, the insider now owns 2,999,434 shares in the company, valued at $26,994,906. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alight news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction that occurred 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 sale, the insider now owns 2,963,694 shares of the company’s stock, valued at approximately $26,525,061.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Katie J. Rooney sold 7,100 shares of the 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 sale, the insider now owns 2,999,434 shares of the company’s stock, valued at approximately $26,994,906. The disclosure for this sale can be found here. Insiders have sold 550,129 shares of company stock valued at $12,449,117 over the last three months. 3.66% of the stock is owned by corporate insiders.

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.