Alight, Inc. (NYSE:ALIT) Stock Holdings Lowered by Arizona State Retirement System

Arizona State Retirement System lowered its position in shares of Alight, Inc. (NYSE:ALIT) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,196 shares of the company’s stock after selling 2,094 shares during the quarter. Arizona State Retirement System’s holdings in Alight were worth $725,000 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 increased its position 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 worth $49,000 after purchasing an additional 2,059 shares in the last quarter. Amalgamated Bank grew its position in shares of Alight by 17.2% during the 1st quarter. Amalgamated Bank now owns 14,534 shares of the company’s stock worth $86,000 after buying an additional 2,133 shares during the period. Xponance Inc. boosted its stake in Alight by 8.8% during the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock worth $209,000 after acquiring an additional 2,437 shares during the last quarter. Shay Capital LLC boosted its stake in Alight by 2.4% during the 4th quarter. Shay Capital LLC now owns 128,000 shares of the company’s stock worth $886,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in 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 during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Trading Down 0.6%

Alight stock opened at $5.45 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.18 and a quick ratio of 1.18. Alight, Inc. has a one year low of $4.49 and a one year high of $8.93. The stock has a market capitalization of $2.93 billion, a PE ratio of -38.89 and a beta of 1.00. The business’s fifty day moving average is $5.57 and its 200 day moving average is $5.92.

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

Alight Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, June 2nd. Alight’s payout ratio is -114.29%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALIT. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Alight in a research note on Friday, June 20th. DA Davidson reiterated a “buy” rating and issued a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. Finally, Wedbush cut their price objective on shares of Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. One 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, the company presently has an average rating of “Moderate Buy” and an average target price of $9.86.

Insider Activity at Alight

In related news, Director David D. Guilmette purchased 50,000 shares of Alight stock in a transaction dated Tuesday, May 20th. The stock was purchased at an average cost of $5.69 per share, with a total value of $284,500.00. Following the transaction, the director owned 600,750 shares in the company, valued at approximately $3,418,267.50. The trade was a 9.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.93% of the company’s stock.

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.