Brown Advisory Inc. acquired a new stake in shares of Alight, Inc. (NYSE:ALIT – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 31,450 shares of the company’s stock, valued at approximately $186,000.
A number of other hedge funds also recently made changes to their positions in ALIT. Norges Bank purchased a new stake in shares of Alight during the fourth quarter valued at approximately $35,045,000. Starboard Value LP raised its stake in shares of Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock valued at $326,818,000 after purchasing an additional 3,833,000 shares during the period. Cooper Creek Partners Management LLC raised its stake in shares of Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock valued at $122,514,000 after purchasing an additional 3,322,705 shares during the period. American Century Companies Inc. increased its stake in shares of Alight by 214.0% in the fourth quarter. American Century Companies Inc. now owns 4,600,961 shares of the company’s stock worth $31,839,000 after buying an additional 3,135,846 shares during the last quarter. Finally, J. Goldman & Co LP increased its stake in shares of Alight by 105.3% in the fourth quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company’s stock worth $39,960,000 after buying an additional 2,961,443 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on ALIT. Wedbush dropped their price target on shares of Alight from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Alight in a research note on Friday, June 20th. Finally, DA Davidson restated a “buy” rating and issued a $10.00 price target 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 six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.86.
Alight Stock Up 1.4%
ALIT stock opened at $5.58 on Thursday. Alight, Inc. has a 1-year low of $4.49 and a 1-year high of $8.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a fifty day moving average price of $5.57 and a two-hundred day moving average price of $5.95. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -39.82 and a beta of 1.00.
Alight (NYSE:ALIT – Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. Research analysts predict that Alight, Inc. will post 0.54 EPS for the current year.
Alight Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, June 2nd. Alight’s dividend payout ratio (DPR) is presently -114.29%.
Insiders Place Their Bets
In other Alight news, Director David D. Guilmette acquired 50,000 shares of Alight stock in a transaction that occurred on Tuesday, May 20th. The shares were acquired at an average cost of $5.69 per share, with a total value of $284,500.00. Following the completion of the purchase, the director directly owned 600,750 shares of the company’s stock, valued at $3,418,267.50. This represents a 9.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.93% of the stock is owned by company insiders.
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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