Rovida Advisors Inc. Has $18.66 Million Holdings in Alight, Inc. (NYSE:ALIT)

Rovida Advisors Inc. boosted its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 27.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,700,000 shares of the company's stock after acquiring an additional 588,830 shares during the quarter. Alight comprises 14.5% of Rovida Advisors Inc.'s holdings, making the stock its 2nd largest holding. Rovida Advisors Inc. owned approximately 0.50% of Alight worth $18,657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Alight by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock valued at $282,898,000 after buying an additional 292,911 shares during the period. State Street Corp raised its stake in shares of Alight by 1.2% in the third quarter. State Street Corp now owns 11,905,766 shares of the company's stock valued at $88,103,000 after acquiring an additional 141,828 shares in the last quarter. Rubric Capital Management LP boosted its stake in shares of Alight by 38.3% in the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company's stock valued at $86,185,000 after buying an additional 3,223,617 shares during the period. Geode Capital Management LLC grew its holdings in Alight by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company's stock worth $74,521,000 after acquiring an additional 77,948 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Alight by 11.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company's stock valued at $46,430,000 after buying an additional 712,912 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALIT. DA Davidson restated a "buy" rating and issued a $10.00 target price on shares of Alight in a report on Wednesday. Wedbush reaffirmed an "outperform" rating and set a $11.00 price target on shares of Alight in a research report on Tuesday, March 25th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $9.00 price objective 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.19.

Insider Transactions at Alight

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

Alight Price Performance

Alight stock traded down $0.31 during midday trading on Friday, reaching $5.91. 7,784,543 shares of the company were exchanged, compared to its average volume of 5,601,850. The firm's 50-day simple moving average is $6.56 and its 200-day simple moving average is $7.01. Alight, Inc. has a 1 year low of $5.87 and a 1 year high of $9.92. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -19.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

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

Alight Dividend Announcement

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

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.