Teacher Retirement System of Texas Purchases New Shares in Alight, Inc. (NYSE:ALIT)

Teacher Retirement System of Texas purchased a new stake in Alight, Inc. (NYSE:ALIT) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 72,161 shares of the company’s stock, valued at approximately $428,000.

Other large investors have also recently bought and sold shares of the company. Amalgamated Bank lifted its stake in Alight by 17.2% in the 1st quarter. Amalgamated Bank now owns 14,534 shares of the company’s stock valued at $86,000 after purchasing an additional 2,133 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Alight by 70.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,734,557 shares of the company’s stock worth $15,915,000 after purchasing an additional 1,126,650 shares during the last quarter. Kirr Marbach & Co. LLC IN increased its stake in shares of Alight by 11.1% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 765,311 shares of the company’s stock valued at $4,538,000 after acquiring an additional 76,385 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Alight in the 1st quarter valued at $201,000. Finally, FNY Investment Advisers LLC acquired a new stake in Alight in the 1st quarter valued at $52,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alight news, Director David D. Guilmette purchased 50,000 shares of the stock in a transaction on Tuesday, May 20th. The shares were bought at an average price 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Alight Stock Up 0.3%

NYSE ALIT opened at $5.59 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47. Alight, Inc. has a 12 month low of $4.49 and a 12 month high of $8.93. The stock’s 50 day moving average is $5.57 and its 200 day moving average is $5.94. The stock has a market cap of $3.01 billion, a PE ratio of -39.89 and a beta of 1.00.

Alight (NYSE:ALIT) last announced 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). Alight had a negative net margin of 2.65% and a positive return on equity of 5.74%. The business had revenue of $548.00 million during the quarter, compared to the consensus estimate of $542.66 million. During the same period last year, the company earned $0.13 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. Research analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, June 2nd. Alight’s dividend payout ratio is presently -114.29%.

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.