Russell Investments Group Ltd. Buys 245,277 Shares of Alight, Inc. (NYSE:ALIT)

Russell Investments Group Ltd. lifted its stake in shares of Alight, Inc. (NYSE:ALIT) by 35.3% during the fourth quarter, HoldingsChannel reports. The firm owned 940,672 shares of the company’s stock after acquiring an additional 245,277 shares during the quarter. Russell Investments Group Ltd.’s holdings in Alight were worth $8,024,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new position in Alight during the third quarter worth $52,000. Allspring Global Investments Holdings LLC grew its position in shares of Alight by 86.8% in 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. acquired a new position in shares of Alight during the 3rd quarter worth about $109,000. Orion Portfolio Solutions LLC raised its holdings in shares of Alight by 13.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company’s stock valued at $123,000 after purchasing an additional 2,082 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Alight in the 3rd quarter valued at about $134,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insiders Place Their Bets

In other Alight news, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now directly owns 2,927,314 shares in the company, valued at $28,394,945.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alight news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the transaction, the insider now owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at $771,753,903.30. The disclosure for this sale can be found here. Insiders have sold 543,029 shares of company stock worth $12,385,217 over the last ninety days. Corporate insiders own 3.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Alight Stock Performance

ALIT opened at $9.29 on Wednesday. Alight, Inc. has a 1 year low of $6.33 and a 1 year high of $10.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $5.23 billion, a PE ratio of -16.89, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. The business has a fifty day simple moving average of $9.27 and a 200 day simple moving average of $8.56.

Alight (NYSE:ALIT) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $960.00 million during 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%. Research analysts expect that Alight, Inc. will post 0.5 EPS for the current year.

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.