Alight, Inc. (NYSE:ALIT) Shares Acquired by MYDA Advisors LLC

MYDA Advisors LLC boosted its position in Alight, Inc. (NYSE:ALIT - Free Report) by 220.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,000 shares of the company's stock after purchasing an additional 55,000 shares during the period. MYDA Advisors LLC's holdings in Alight were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALIT. Norges Bank acquired a new position in Alight during the fourth quarter worth $35,045,000. Cooper Creek Partners Management LLC increased its holdings in shares of Alight by 23.1% in the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock valued at $122,514,000 after purchasing an additional 3,322,705 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Alight by 214.0% in the fourth quarter. American Century Companies Inc. now owns 4,600,961 shares of the company's stock valued at $31,839,000 after purchasing an additional 3,135,846 shares during the period. Bank of New York Mellon Corp boosted its holdings in Alight by 94.6% during the fourth quarter. Bank of New York Mellon Corp now owns 4,155,792 shares of the company's stock worth $28,758,000 after buying an additional 2,020,648 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Alight during the fourth quarter worth about $10,853,000. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Activity

In related news, Director Richard N. Massey purchased 100,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the acquisition, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert A. Schriesheim acquired 22,092 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 125,092 shares of company stock valued at $807,755 over the last quarter. Company insiders own 5.33% of the company's stock.

Alight Trading Down 0.7 %

Alight stock opened at $5.00 on Friday. The stock has a 50-day moving average price of $6.00 and a 200 day moving average price of $6.76. Alight, Inc. has a 52 week low of $4.49 and a 52 week high of $9.45. The stock has a market cap of $2.71 billion, a PE ratio of -16.65 and a beta of 0.97. 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 posted its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on ALIT. Needham & Company LLC restated a "buy" rating and issued a $9.00 price target on shares of Alight in a report on Monday, March 24th. DA Davidson reaffirmed a "buy" rating and set a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. Finally, Wedbush reissued an "outperform" rating and issued a $11.00 price objective on shares of Alight in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $10.19.

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.

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