546,714 Shares in Alight, Inc. (NYSE:ALIT) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Alight, Inc. (NYSE:ALIT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 546,714 shares of the company's stock, valued at approximately $3,783,000. Raymond James Financial Inc. owned about 0.10% of Alight as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Walleye Capital LLC purchased a new stake in shares of Alight during the third quarter worth $5,063,000. JPMorgan Chase & Co. raised its stake in shares of Alight by 202.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock valued at $13,794,000 after purchasing an additional 1,248,465 shares during the period. Wexford Capital LP lifted its holdings in Alight by 320.2% during the 3rd quarter. Wexford Capital LP now owns 110,000 shares of the company's stock worth $814,000 after purchasing an additional 83,822 shares in the last quarter. Maverick Capital Ltd. bought a new position in Alight in the 3rd quarter worth about $1,834,000. Finally, Weiss Asset Management LP bought a new position in Alight in the 3rd quarter worth about $1,512,000. 96.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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Insider Buying and Selling at Alight

In related news, Director Richard N. Massey bought 100,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $6.39 per share, with a total value of $639,000.00. Following the purchase, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $6.79 per share, for a total transaction 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. The trade was a ∞ increase in their ownership of the stock. 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. Insiders own 5.33% of the company's stock.

Alight Price Performance

Shares of NYSE:ALIT traded down $0.31 during trading on Friday, reaching $5.91. The company had a trading volume of 7,784,543 shares, compared to its average volume of 5,601,850. The company has a fifty day moving average of $6.56 and a two-hundred day moving average of $7.01. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.21 billion, a P/E ratio of -19.68 and a beta of 0.94. Alight, Inc. has a 12 month low of $5.87 and a 12 month high of $9.92.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results 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 the consensus estimate of $675.66 million. Equities research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

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

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.