Arrowstreet Capital Limited Partnership Takes Position in Alight, Inc. (NYSE:ALIT)

Arrowstreet Capital Limited Partnership purchased a new stake in Alight, Inc. (NYSE:ALIT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 93,129 shares of the company's stock, valued at approximately $644,000.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after acquiring an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock valued at $37,000 after buying an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Alight during the 4th quarter worth about $50,000. FMR LLC grew its holdings in Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company's stock worth $89,000 after acquiring an additional 3,689 shares during the last quarter. Finally, Winslow Asset Management Inc. acquired a new stake in Alight in the 4th quarter valued at about $93,000. 96.74% of the stock is owned by institutional investors.

Alight Trading Down 1.9 %

Shares of NYSE:ALIT traded down $0.10 during mid-day trading on Tuesday, reaching $5.01. The stock had a trading volume of 7,644,362 shares, compared to its average volume of 6,018,107. The firm has a 50 day simple moving average of $6.13 and a two-hundred day simple moving average of $6.82. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $9.45. The firm has a market cap of $2.72 billion, a PE ratio of -16.68 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.

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

Alight Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Richard N. Massey acquired 100,000 shares of the business'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 transaction, the director now owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. The trade was a 6.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of the stock in a transaction on 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 acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 125,092 shares of company stock worth $807,755 in the last 90 days. Corporate insiders own 5.33% of the company's stock.

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.