Corbyn Investment Management Inc. MD Grows Position in Alight, Inc. (NYSE:ALIT)

Corbyn Investment Management Inc. MD raised its position in shares of Alight, Inc. (NYSE:ALIT) by 21.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634,914 shares of the company’s stock after acquiring an additional 114,097 shares during the period. Alight makes up approximately 2.6% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 13th biggest holding. Corbyn Investment Management Inc. MD owned approximately 0.11% of Alight worth $5,416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Alight during the third quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC boosted its holdings in Alight by 86.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company’s stock valued at $86,000 after acquiring an additional 5,661 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alight in the 3rd quarter valued at $109,000. Orion Portfolio Solutions LLC increased its stake in Alight by 13.7% in the third quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company’s stock worth $123,000 after purchasing an additional 2,082 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Alight in the third quarter worth $134,000. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Up 0.8 %

ALIT stock traded up $0.07 during trading on Friday, reaching $9.18. 540,030 shares of the company traded hands, compared to its average volume of 6,471,329. The business has a 50 day simple moving average of $9.29 and a 200 day simple moving average of $8.42. Alight, Inc. has a 12 month low of $6.33 and a 12 month high of $10.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of -16.55, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92.

Alight (NYSE:ALIT) last issued its quarterly earnings data 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 firm had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. On average, equities research analysts anticipate that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Alight

In other news, CEO Stephan Scholl sold 428,574 shares of the business’s 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 sale, the chief executive officer now owns 8,198,199 shares in the company, valued at $80,424,332.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $4,204,310.94. Following the sale, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at approximately $80,424,332.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 550,129 shares of company stock worth $12,449,117. 3.96% of the stock is owned by insiders.

Analyst Ratings Changes

ALIT has been the topic of a number of research analyst reports. Needham & Company LLC upped their price target on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. UBS Group lifted their price target on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Alight in a report on Thursday. Canaccord Genuity Group raised their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Citigroup reiterated a “buy” rating and issued a $12.00 target price on shares of Alight in a report on Friday, January 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alight presently has an average rating of “Buy” and a consensus price target of $12.71.

About Alight

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.