GABELLI & Co INVESTMENT ADVISERS INC. Purchases 60,450 Shares of Alight, Inc. (NYSE:ALIT)

GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 107.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,800 shares of the company's stock after purchasing an additional 60,450 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in Alight were worth $808,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Gabelli Funds LLC increased its position in shares of Alight by 112.5% during the 4th quarter. Gabelli Funds LLC now owns 87,650 shares of the company's stock valued at $607,000 after purchasing an additional 46,400 shares during the last quarter. Barclays PLC grew its position in Alight by 121.6% during the fourth quarter. Barclays PLC now owns 1,808,037 shares of the company's stock valued at $12,512,000 after acquiring an additional 992,196 shares during the last quarter. Cooper Creek Partners Management LLC raised its stake in shares of Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock worth $122,514,000 after acquiring an additional 3,322,705 shares in the last quarter. EVR Research LP raised its stake in shares of Alight by 16.9% during the fourth quarter. EVR Research LP now owns 2,280,000 shares of the company's stock worth $15,778,000 after acquiring an additional 330,000 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Alight by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 13,224 shares of the company's stock worth $92,000 after acquiring an additional 11,783 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Insiders Place Their Bets

In other Alight news, Director Robert A. Schriesheim acquired 22,092 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the purchase, the director now directly owns 22,092 shares of the company's stock, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, with a total value of $639,000.00. Following the purchase, the director now directly owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 125,092 shares of company stock worth $807,755. Company insiders own 5.33% of the company's stock.

Analyst Upgrades and Downgrades

ALIT has been the topic of a number of analyst reports. Wedbush reiterated an "outperform" rating and issued a $11.00 target price on shares of Alight in a research report on Tuesday, March 25th. Needham & Company LLC reissued a "buy" rating and issued a $9.00 target price on shares of Alight in a research note on Monday, March 24th. Finally, DA Davidson restated a "buy" rating and set a $10.00 price target on shares of Alight in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.19.

Alight Trading Down 0.7 %

NYSE ALIT traded down $0.04 on Friday, hitting $5.00. The company's stock had a trading volume of 10,443,425 shares, compared to its average volume of 6,108,076. The firm has a market cap of $2.71 billion, a P/E ratio of -16.65 and a beta of 0.97. Alight, Inc. has a 52-week low of $4.49 and a 52-week high of $9.45. The company's 50-day simple moving average is $6.00 and its 200 day simple moving average is $6.76. 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 released its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The company had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Research analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 3.20%. Alight's payout ratio is -53.33%.

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.