Swiss National Bank Buys 50,300 Shares of Alight, Inc. (NYSE:ALIT)

Swiss National Bank boosted its position in Alight, Inc. (NYSE:ALIT - Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 842,400 shares of the company's stock after purchasing an additional 50,300 shares during the period. Swiss National Bank owned approximately 0.16% of Alight worth $5,829,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Alight by 1.2% in 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 last quarter. Rubric Capital Management LP grew its holdings 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 worth $86,185,000 after acquiring an additional 3,223,617 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alight by 0.8% during the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company's stock worth $74,521,000 after purchasing an additional 77,948 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Alight by 11.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company's stock valued at $46,430,000 after purchasing an additional 712,912 shares during the last quarter. Finally, Kinney Asset Management LLC boosted its position in shares of Alight by 4.0% in the 4th quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company's stock valued at $44,963,000 after purchasing an additional 250,000 shares during the period. 96.74% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were purchased 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 represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average cost 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 in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 125,092 shares of company stock valued at $807,755 in the last quarter. Insiders own 5.33% of the company's stock.

Alight Stock Up 0.4 %

ALIT stock traded up $0.03 during trading hours on Thursday, hitting $6.23. The company's stock had a trading volume of 5,266,543 shares, compared to its average volume of 6,964,464. The stock has a 50 day moving average price of $6.59 and a two-hundred day moving average price of $7.02. Alight, Inc. has a 12 month low of $5.87 and a 12 month high of $10.04. The company has a market capitalization of $3.38 billion, a PE ratio of -20.75 and a beta of 0.94. 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 issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (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 business had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. On average, equities research analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Monday, March 3rd. Alight's payout ratio is -53.33%.

Analyst Ratings Changes

Several research firms have issued reports on ALIT. DA Davidson restated a "buy" rating and set a $10.00 price objective on shares of Alight in a report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $9.00 price target on shares of Alight in a report on Monday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $11.00 price objective on shares of Alight in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Alight presently has a consensus rating of "Moderate Buy" and an average price target of $10.19.

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.