Nuveen Asset Management LLC Grows Position in Alight, Inc. (NYSE:ALIT)

Nuveen Asset Management LLC boosted its stake in shares of Alight, Inc. (NYSE:ALIT) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,793,122 shares of the company’s stock after purchasing an additional 191,075 shares during the period. Nuveen Asset Management LLC owned approximately 0.33% of Alight worth $12,408,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Occudo Quantitative Strategies LP purchased a new stake in Alight during the 4th quarter worth approximately $501,000. Millennium Management LLC grew its position in Alight by 890.2% during the 4th quarter. Millennium Management LLC now owns 1,743,320 shares of the company’s stock worth $12,064,000 after purchasing an additional 1,567,267 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alight by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,860 shares of the company’s stock worth $1,653,000 after purchasing an additional 6,639 shares during the last quarter. Moore Capital Management LP grew its position in Alight by 14.3% during the 4th quarter. Moore Capital Management LP now owns 3,872,976 shares of the company’s stock worth $26,801,000 after purchasing an additional 484,122 shares during the last quarter. Finally, J. Goldman & Co LP grew its position in Alight by 105.3% during the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company’s stock worth $39,960,000 after purchasing an additional 2,961,443 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

ALIT opened at $5.39 on Tuesday. 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 firm has a fifty day moving average price of $5.42 and a 200 day moving average price of $6.44. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $8.93. The stock has a market cap of $2.90 billion, a P/E ratio of -17.95 and a beta of 0.99.

Alight (NYSE:ALIT) last posted its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $548.00 million during the quarter, compared to analyst estimates of $542.66 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate 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 will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, June 2nd. Alight’s dividend payout ratio is currently -114.29%.

Analysts Set New Price Targets

ALIT has been the topic of several research analyst reports. Wedbush dropped their target price on shares of Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Finally, DA Davidson restated a “buy” rating and set a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.94.

Insider Activity at Alight

In related news, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David D. Guilmette acquired 50,000 shares of Alight stock in a transaction on Tuesday, May 20th. The shares were bought at an average price of $5.69 per share, with a total value of $284,500.00. Following the completion of the transaction, the director now directly owns 600,750 shares of the company’s stock, valued at $3,418,267.50. This trade represents a 9.08% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 175,092 shares of company stock worth $1,092,255 in the last three months. Company insiders own 5.33% of the company’s stock.

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.