Banco BTG Pactual S.A. Grows Stock Holdings in Alight, Inc. (NYSE:ALIT)

Banco BTG Pactual S.A. raised its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 126.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,022 shares of the company's stock after purchasing an additional 51,879 shares during the quarter. Banco BTG Pactual S.A.'s holdings in Alight were worth $628,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Swiss National Bank lifted its stake in shares of Alight by 5.0% during the 3rd quarter. Swiss National Bank now owns 792,100 shares of the company's stock valued at $5,862,000 after buying an additional 38,000 shares in the last quarter. Intech Investment Management LLC bought a new stake in Alight during the third quarter valued at about $795,000. Charles Schwab Investment Management Inc. lifted its position in shares of Alight by 16.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,898,593 shares of the company's stock valued at $36,250,000 after acquiring an additional 699,375 shares in the last quarter. FMR LLC lifted its position in shares of Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company's stock valued at $89,000 after acquiring an additional 3,689 shares in the last quarter. Finally, Rubric Capital Management LP boosted its stake in shares of Alight by 38.3% in the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company's stock worth $86,185,000 after acquiring an additional 3,223,617 shares during the period. 96.74% of the stock is currently owned by institutional investors.

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Insider Transactions at Alight

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

Alight Price Performance

Shares of Alight stock traded down $0.31 during trading hours on Friday, reaching $5.91. The company's stock had a trading volume of 7,784,543 shares, compared to its average volume of 5,601,850. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a one year low of $5.87 and a one year high of $9.92. The firm has a 50 day moving average price of $6.56 and a 200-day moving average price of $7.01. The stock has a market cap of $3.21 billion, a P/E ratio of -19.68 and a beta of 0.94.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $680.00 million for the quarter, compared to analysts' expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. On average, analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Monday, March 3rd. Alight's dividend payout ratio is currently -53.33%.

Analyst Ratings Changes

Several brokerages recently issued reports on ALIT. Wedbush reissued an "outperform" rating and set a $11.00 target price on shares of Alight in a research note on Tuesday, March 25th. DA Davidson reiterated a "buy" rating and issued a $10.00 price target on shares of Alight in a report on Wednesday. Finally, Needham & Company LLC reissued a "buy" rating and set a $9.00 price objective on shares of Alight in a report on Monday, March 24th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Alight has a consensus 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.