Corbyn Investment Management Inc. MD Purchases 28,704 Shares of Alight, Inc. (NYSE:ALIT)

Corbyn Investment Management Inc. MD boosted its position in Alight, Inc. (NYSE:ALIT) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 714,823 shares of the company’s stock after acquiring an additional 28,704 shares during the quarter. Alight accounts for 2.0% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 15th largest holding. Corbyn Investment Management Inc. MD owned 0.13% of Alight worth $5,290,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Alight during the 3rd quarter worth $74,000. KBC Group NV grew its position in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after acquiring an additional 2,331 shares during the last quarter. Ingalls & Snyder LLC grew its position 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 acquiring an additional 2,235 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in Alight during the 3rd quarter worth $105,000. 96.74% of the stock is owned by institutional investors.

Alight Stock Down 2.0 %

Shares of NYSE:ALIT opened at $7.73 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The business’s 50-day moving average is $7.28 and its 200-day moving average is $7.39. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. During the same period in the prior year, the business earned $0.07 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts anticipate that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently declared a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Wall Street Analyst Weigh In

A number of research firms have commented on ALIT. Canaccord Genuity Group upped their price target on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wedbush reduced their price target on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. KeyCorp upped their price target on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC upped their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Insider Buying and Selling

In related news, Director William P. Foley II sold 5,000,000 shares of the company’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 transaction of $41,250,000.00. Following the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.