Bryce Point Capital LLC Takes Position in Alight, Inc. (NYSE:ALIT)

Bryce Point Capital LLC purchased a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,960 shares of the company's stock, valued at approximately $526,000.

Several other hedge funds have also recently bought and sold shares of ALIT. Blue Trust Inc. lifted its position in shares of Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after purchasing an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock worth $37,000 after purchasing an additional 1,996 shares during the period. Venturi Wealth Management LLC acquired a new stake in Alight in the fourth quarter valued at approximately $50,000. Headlands Technologies LLC purchased a new position in Alight in the fourth quarter worth approximately $84,000. Finally, 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 in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Upgrades and Downgrades

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

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Alight Stock Performance

NYSE ALIT traded up $0.68 during trading hours on Wednesday, hitting $5.37. 25,402,807 shares of the stock were exchanged, compared to its average volume of 5,886,547. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $9.45. The stock has a 50-day moving average of $6.23 and a 200 day moving average of $6.87. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -17.90 and a beta of 0.97. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 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 positive return on equity of 5.42% and a negative net margin of 5.53%. As a group, equities research analysts forecast that Alight, Inc. will post 0.54 earnings per share 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 issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Monday, March 3rd. Alight's dividend payout ratio (DPR) is presently -53.33%.

Insider Activity

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction on Monday, March 10th. The stock was 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 of the company's stock, valued at $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert A. Schriesheim purchased 22,092 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now directly owns 22,092 shares of the company's stock, valued at $150,004.68. The trade was 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 over the last ninety days. 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.