American Century Companies Inc. Buys 3,135,846 Shares of Alight, Inc. (NYSE:ALIT)

American Century Companies Inc. boosted its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 214.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,600,961 shares of the company's stock after purchasing an additional 3,135,846 shares during the period. American Century Companies Inc. owned about 0.85% of Alight worth $31,839,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Walleye Capital LLC purchased a new position in shares of Alight during the 3rd quarter valued at $5,063,000. JPMorgan Chase & Co. grew its stake in Alight by 202.8% in the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock valued at $13,794,000 after purchasing an additional 1,248,465 shares in the last quarter. Wexford Capital LP increased its position in Alight by 320.2% in the 3rd quarter. Wexford Capital LP now owns 110,000 shares of the company's stock worth $814,000 after purchasing an additional 83,822 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Alight during the 3rd quarter worth about $1,834,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Alight during the 3rd quarter valued at about $1,512,000. Institutional investors and hedge funds own 96.74% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Alight Stock Performance

Shares of Alight stock traded up $0.07 on Wednesday, reaching $5.89. The stock had a trading volume of 6,205,967 shares, compared to its average volume of 5,636,062. Alight, Inc. has a fifty-two week low of $5.73 and a fifty-two week high of $9.64. The business's 50-day moving average price is $6.50 and its two-hundred day moving average price is $6.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $3.20 billion, a P/E ratio of -19.63 and a beta of 0.94.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. On average, sell-side analysts forecast that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's dividend payout ratio is currently -53.33%.

Insider Transactions at Alight

In other news, Director Richard N. Massey bought 100,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of the business's stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This represents 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 worth $807,755 over the last three months. 5.33% of the stock is currently owned by insiders.

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.