Alight, Inc. (NYSE:ALIT) Stake Raised by EVR Research LP

EVR Research LP lifted its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 16.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,280,000 shares of the company's stock after purchasing an additional 330,000 shares during the quarter. Alight comprises about 5.3% of EVR Research LP's holdings, making the stock its 6th biggest holding. EVR Research LP owned about 0.42% of Alight worth $15,778,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake 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 purchasing an additional 3,689 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Alight by 288.3% during the third quarter. Verition Fund Management LLC now owns 48,776 shares of the company's stock worth $361,000 after buying an additional 36,216 shares in the last quarter. State Street Corp increased its stake in shares of Alight by 1.2% during the third quarter. State Street Corp now owns 11,905,766 shares of the company's stock worth $88,103,000 after buying an additional 141,828 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Alight during the third quarter worth approximately $588,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock worth $37,000 after acquiring an additional 1,996 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

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Analyst Ratings Changes

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

Alight Stock Performance

Shares of ALIT stock traded up $0.04 during mid-day trading on Wednesday, hitting $5.04. The stock had a trading volume of 9,699,725 shares, compared to its average volume of 7,918,106. The firm has a market cap of $2.74 billion, a PE ratio of -16.80 and a beta of 0.97. The company's 50-day simple moving average is $6.10 and its 200-day simple moving average is $6.81. 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 fifty-two week low of $4.49 and a fifty-two week high of $9.45.

Alight (NYSE:ALIT - Get Free Report) last announced 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). 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. Sell-side analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently disclosed 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 3.17%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's payout ratio is -53.33%.

Insider Buying and Selling at Alight

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