River Road Asset Management LLC Increases Stake in Alight, Inc. (NYSE:ALIT)

River Road Asset Management LLC grew its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 2.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,988,254 shares of the company's stock after acquiring an additional 286,133 shares during the quarter. River Road Asset Management LLC owned about 1.83% of Alight worth $73,913,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in Alight in the first quarter worth $147,000. Duality Advisers LP bought a new stake in Alight in the first quarter worth $119,000. Swiss National Bank lifted its position in Alight by 4.0% in the first quarter. Swiss National Bank now owns 713,500 shares of the company's stock worth $7,028,000 after buying an additional 27,700 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Alight in the first quarter worth $2,709,000. Finally, Sei Investments Co. lifted its position in Alight by 213.9% in the first quarter. Sei Investments Co. now owns 252,330 shares of the company's stock worth $2,486,000 after buying an additional 171,941 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Up 3.3 %

NYSE ALIT traded up $0.22 during trading on Tuesday, hitting $6.95. The company's stock had a trading volume of 2,951,811 shares, compared to its average volume of 5,615,464. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $3.80 billion, a PE ratio of -15.75 and a beta of 0.87. The business's 50 day simple moving average is $7.21 and its 200-day simple moving average is $7.48. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. The business had revenue of $787.00 million during the quarter, compared to the consensus estimate of $791.22 million. On average, equities analysts anticipate that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALIT has been the topic of a number of recent analyst reports. KeyCorp reduced their target price on Alight from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, July 11th. Citigroup reduced their target price on Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Wedbush reduced their target price on Alight from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 target price on shares of Alight in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered Alight from an "overweight" rating to a "neutral" rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Alight has an average rating of "Moderate Buy" and a consensus target price of $10.75.

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.