Handelsbanken Fonder AB Has $467,000 Stock Position in Alight, Inc. (NYSE:ALIT)

Handelsbanken Fonder AB lifted its stake in Alight, Inc. (NYSE:ALIT) by 67.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,800 shares of the company’s stock after purchasing an additional 22,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Alight were worth $467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Alight by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 34,651,300 shares of the company’s stock valued at $245,678,000 after purchasing an additional 792,348 shares during the period. Fidelity National Financial Inc. boosted its position in shares of Alight by 33.3% in the 3rd quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock valued at $141,800,000 after purchasing an additional 5,000,000 shares during the period. River Road Asset Management LLC boosted its position in shares of Alight by 2.9% in the 4th 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. Northern Trust Corp boosted its position in shares of Alight by 2.7% in the 3rd quarter. Northern Trust Corp now owns 3,660,868 shares of the company’s stock valued at $25,956,000 after purchasing an additional 96,321 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of Alight by 3.4% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,306,359 shares of the company’s stock valued at $23,442,000 after purchasing an additional 107,373 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Down 0.4 %

Shares of ALIT stock opened at $8.99 on Thursday. The stock’s 50 day simple moving average is $9.26 and its 200 day simple moving average is $8.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.27. Alight, Inc. has a twelve month low of $6.33 and a twelve month high of $10.38. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of -16.34, a PEG ratio of 1.79 and a beta of 0.92.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALIT shares. Canaccord Genuity Group increased their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Alight in a research report on Thursday, April 25th. UBS Group raised their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and set a $12.00 price target on shares of Alight in a research note on Friday, January 5th. Finally, Needham & Company LLC raised their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $12.71.

Insiders Place Their Bets

In other news, insider Katie J. Rooney sold 7,100 shares of Alight stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $26,994,906. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Katie J. Rooney sold 26,164 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total value of $234,167.80. Following the sale, the insider now owns 2,963,694 shares of the company’s stock, valued at approximately $26,525,061.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Katie J. Rooney sold 7,100 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the sale, the insider now directly owns 2,999,434 shares in the company, valued at approximately $26,994,906. The disclosure for this sale can be found here. Insiders have sold a total of 550,129 shares of company stock valued at $12,449,117 in the last three months. Company insiders own 3.66% of the company’s stock.

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.