Alight, Inc. (NYSE:ALIT) Shares Bought by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. grew its stake in Alight, Inc. (NYSE:ALIT) by 9.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 119,700 shares of the company’s stock after acquiring an additional 10,800 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Alight were worth $868,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after buying an additional 2,961 shares during the period. Bank of New York Mellon Corp increased its stake in Alight by 100.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock worth $26,385,000 after buying an additional 1,795,830 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Alight by 29.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,402 shares of the company’s stock worth $623,000 after buying an additional 19,353 shares during the period. Ingalls & Snyder LLC lifted its holdings in Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in Alight by 13.5% in the 2nd quarter. Natixis Advisors LLC now owns 198,263 shares of the company’s stock valued at $1,463,000 after buying an additional 23,520 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Price Performance

Shares of ALIT opened at $7.06 on Wednesday. The firm has a 50-day simple moving average of $7.46 and a 200-day simple moving average of $7.31. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -14.70 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

Alight (NYSE:ALIT) last issued its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. On average, equities research analysts anticipate that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.04 dividend. The ex-dividend date was Monday, December 2nd.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALIT. Citigroup decreased their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. KeyCorp lifted their price target on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research note on Tuesday, August 20th. Finally, Needham & Company LLC upped their price objective on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Alight presently has an average rating of “Moderate Buy” and a consensus target price of $10.83.

Insider Buying and Selling at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the sale, the president now owns 852,694 shares in the company, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is owned by company insiders.

Alight 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.