Geode Capital Management LLC Sells 111,895 Shares of Alight, Inc. (NYSE:ALIT)

Geode Capital Management LLC lessened its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 1.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,956,551 shares of the company's stock after selling 111,895 shares during the period. Geode Capital Management LLC owned about 1.83% of Alight worth $68,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after acquiring an additional 1,729 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock valued at $37,000 after purchasing an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Alight in the fourth quarter worth approximately $50,000. FMR LLC increased its stake in shares of Alight by 44.4% in the third 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. Finally, Winslow Asset Management Inc. bought a new stake in shares of Alight during the 4th quarter valued at $93,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Trading Down 1.9 %

Shares of ALIT traded down $0.10 during midday trading on Tuesday, hitting $5.01. The stock had a trading volume of 7,644,362 shares, compared to its average volume of 6,018,107. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $9.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock's 50 day moving average is $6.13 and its 200 day moving average is $6.82. The firm has a market cap of $2.72 billion, a PE ratio of -16.68 and a beta of 0.97.

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Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $680.00 million for the quarter, compared to analysts' expectations of $675.66 million. As a group, analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on ALIT shares. 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 set a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. Finally, 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Alight has a consensus rating of "Moderate Buy" and a consensus target price of $10.19.

Insider Buying and Selling at Alight

In other Alight news, Director Robert A. Schriesheim acquired 22,092 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 22,092 shares in the company, valued at $150,004.68. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 125,092 shares of company stock valued at $807,755 in the last three months. Company insiders own 5.33% of the company's stock.

Alight 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.