Walleye Capital LLC Sells 492,971 Shares of Alight, Inc. (NYSE:ALIT)

Walleye Capital LLC lessened its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 72.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,262 shares of the company's stock after selling 492,971 shares during the quarter. Walleye Capital LLC's holdings in Alight were worth $1,324,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. increased its stake in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after buying an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of 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 acquiring an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Alight during the fourth quarter worth $50,000. Headlands Technologies LLC purchased a new position in Alight in the fourth quarter worth $84,000. Finally, FMR LLC increased its position in shares of Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company's stock valued at $89,000 after purchasing an additional 3,689 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Stock Down 0.7 %

Alight stock opened at $5.00 on Friday. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -16.65 and a beta of 0.97. The firm has a 50 day simple moving average of $6.00 and a 200 day simple moving average of $6.76. Alight, Inc. has a 1-year low of $4.49 and a 1-year high of $9.45. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT - Get Free Report) last released 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). The company had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. On average, analysts predict that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.20%. Alight's dividend payout ratio (DPR) is currently -53.33%.

Insiders Place Their Bets

In other news, Director Richard N. Massey acquired 100,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $6.39 per share, with a total value of $639,000.00. Following 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert A. Schriesheim acquired 22,092 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 125,092 shares of company stock worth $807,755 in the last ninety days. 5.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson reissued a "buy" rating and issued a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and set a $9.00 target price on shares of Alight in a research report on Monday, March 24th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $11.00 price target on shares of Alight in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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