Amalgamated Bank Acquires 2,133 Shares of Alight, Inc. (NYSE:ALIT)

Amalgamated Bank raised its position in shares of Alight, Inc. (NYSE:ALIT) by 17.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,534 shares of the company’s stock after purchasing an additional 2,133 shares during the quarter. Amalgamated Bank’s holdings in Alight were worth $86,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ALIT. Public Employees Retirement System of Ohio grew its stake in shares of Alight by 40.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock valued at $49,000 after acquiring an additional 2,059 shares during the period. Xponance Inc. boosted its stake in Alight by 8.8% in the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock worth $209,000 after purchasing an additional 2,437 shares during the period. Shay Capital LLC boosted its stake in Alight by 2.4% in the 4th quarter. Shay Capital LLC now owns 128,000 shares of the company’s stock worth $886,000 after purchasing an additional 3,000 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Alight by 7.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company’s stock worth $309,000 after acquiring an additional 3,273 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Alight by 17.5% during the 4th quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after acquiring an additional 3,576 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Alight in a report on Friday, June 20th. Finally, Wedbush decreased their price target on Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alight currently has an average rating of “Moderate Buy” and a consensus target price of $9.86.

Alight Trading Down 4.0%

Alight stock opened at $5.70 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. Alight, Inc. has a 52 week low of $4.49 and a 52 week high of $8.93. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -40.68 and a beta of 1.00. The stock has a 50-day moving average price of $5.55 and a 200 day moving average price of $5.98.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $548.00 million during the quarter, compared to analyst estimates of $542.66 million. Alight had a negative net margin of 2.65% and a positive return on equity of 5.74%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. Sell-side analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, June 2nd. Alight’s payout ratio is -114.29%.

Insider Activity at Alight

In other news, Director David D. Guilmette purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average cost of $5.69 per share, for a total transaction of $284,500.00. Following the completion of the transaction, the director owned 600,750 shares of the company’s stock, valued at $3,418,267.50. This trade represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.93% of the company’s stock.

Alight 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.