B. Riley Wealth Advisors Inc. Purchases Shares of 108,900 Alight, Inc. (NYSE:ALIT)

B. Riley Wealth Advisors Inc. bought a new stake in Alight, Inc. (NYSE:ALIT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 108,900 shares of the company’s stock, valued at approximately $804,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Greenlight Capital Inc. purchased a new stake in shares of Alight during the fourth quarter worth about $78,831,000. Rubric Capital Management LP purchased a new stake in Alight in the 2nd quarter worth approximately $62,162,000. Coronation Fund Managers Ltd. bought a new stake in shares of Alight in the 1st quarter worth approximately $55,239,000. Dimensional Fund Advisors LP grew its position in shares of Alight by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after buying an additional 3,342,413 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Alight by 8.1% during the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after buying an additional 2,842,454 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Bank of America cut their price target on shares of Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Wedbush reduced their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Alight in a report on Monday, September 30th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research report on Tuesday, August 20th. Finally, DA Davidson reissued a “buy” rating and issued a $12.00 target price on shares of Alight in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Alight presently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Alight Stock Up 1.9 %

Shares of NYSE:ALIT opened at $7.33 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $7.19 and a two-hundred day simple moving average of $7.87. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -11.82 and a beta of 0.86.

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

Insider Transactions at Alight

In other news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. Following the sale, the chief operating officer now owns 2,880,753 shares in the company, valued at $20,482,153.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.33% of the company’s stock.

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.