DAVENPORT & Co LLC Sells 415,186 Shares of Alight, Inc. (NYSE:ALIT)

DAVENPORT & Co LLC cut its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,170,877 shares of the company's stock after selling 415,186 shares during the period. DAVENPORT & Co LLC owned about 1.87% of Alight worth $69,778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after buying an additional 1,729 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of 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 buying an additional 1,996 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Alight during the third quarter worth approximately $74,000. Nisa Investment Advisors LLC increased its stake in shares of Alight by 54.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company's stock worth $85,000 after buying an additional 4,049 shares during the period. Finally, KBC Group NV increased its stake in shares of Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company's stock worth $89,000 after buying an additional 2,331 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Price Performance

Shares of ALIT stock traded down $0.08 during mid-day trading on Wednesday, reaching $6.59. The stock had a trading volume of 4,209,868 shares, compared to its average volume of 5,008,019. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The company has a market cap of $3.58 billion, a P/E ratio of -13.72 and a beta of 0.94. The business has a 50-day simple moving average of $7.04 and a 200 day simple moving average of $7.20. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. The business had revenue of $555.00 million during the quarter, compared to analysts' expectations of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. On average, sell-side analysts anticipate that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Announces Dividend

The business also recently declared a -- dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, December 2nd.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. KeyCorp increased their price target on shares of Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Needham & Company LLC reduced their target price on Alight from $11.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, January 9th. Finally, Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Alight presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.61.

Insider Buying and Selling

In related news, President Gregory R. Goff sold 250,000 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the president now directly owns 852,694 shares in the company, valued at $6,821,552. This represents a 22.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gregory A. George sold 84,929 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the sale, the insider now owns 223,327 shares of the company's stock, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. Corporate insiders own 5.33% 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.