HB Wealth Management LLC Invests $62,000 in Alight, Inc. $ALIT

HB Wealth Management LLC bought a new position in shares of Alight, Inc. (NYSE:ALIT) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 10,889 shares of the company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Strs Ohio acquired a new position in Alight during the 1st quarter worth approximately $25,000. CWM LLC increased its position in Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company’s stock worth $30,000 after buying an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Alight by 82.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock worth $31,000 after buying an additional 2,348 shares during the period. GAMMA Investing LLC increased its position in Alight by 5,505.8% during the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company’s stock worth $46,000 after buying an additional 7,653 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Alight during the 1st quarter worth $52,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Down 1.2%

Shares of NYSE ALIT opened at $3.19 on Thursday. The company has a market cap of $1.72 billion, a P/E ratio of -1.44 and a beta of 1.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $3.72 and a two-hundred day simple moving average of $4.87. Alight, Inc. has a 52 week low of $3.05 and a 52 week high of $8.93.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $525.26 million. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.Alight’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. Research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.04 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.16 annualized dividend and a yield of 5.0%. Alight’s payout ratio is presently -7.24%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALIT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research note on Wednesday. UBS Group dropped their price target on Alight from $10.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC dropped their price target on Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Wedbush lowered their target price on Alight from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

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.