Corbyn Investment Management Inc. MD Boosts Stake in Alight, Inc. $ALIT

Corbyn Investment Management Inc. MD boosted its holdings in shares of Alight, Inc. (NYSE:ALIT) by 55.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,414,825 shares of the company’s stock after acquiring an additional 505,463 shares during the period. Alight accounts for approximately 1.4% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 23rd biggest position. Corbyn Investment Management Inc. MD owned about 0.26% of Alight worth $4,612,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rubric Capital Management LP boosted its holdings in shares of Alight by 10.8% during the 2nd quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock worth $111,089,000 after purchasing an additional 1,906,140 shares during the last quarter. State Street Corp boosted its stake in Alight by 2.0% during the second quarter. State Street Corp now owns 12,115,866 shares of the company’s stock worth $68,576,000 after buying an additional 241,965 shares during the last quarter. Geode Capital Management LLC grew its holdings in Alight by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock valued at $58,950,000 after buying an additional 135,109 shares in the last quarter. River Road Asset Management LLC increased its stake in shares of Alight by 1.6% in the 2nd quarter. River Road Asset Management LLC now owns 10,211,903 shares of the company’s stock worth $54,736,000 after acquiring an additional 164,223 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Alight by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock worth $42,777,000 after acquiring an additional 637,142 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wedbush dropped their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $6.00 price objective on shares of Alight in a report on Monday, December 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Alight Price Performance

Shares of ALIT opened at $1.83 on Tuesday. The firm has a 50-day simple moving average of $2.20 and a two-hundred day simple moving average of $3.52. The stock has a market cap of $973.09 million, a PE ratio of -0.45 and a beta of 1.08. Alight, Inc. has a 1-year low of $1.82 and a 1-year high of $7.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The company had revenue of $533.00 million for the quarter, compared to analysts’ expectations of $539.43 million. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, analysts forecast that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 8.8%. The ex-dividend date was Monday, December 1st. Alight’s payout ratio is currently -3.91%.

Insider Buying and Selling

In other Alight news, Director Richard N. Massey purchased 100,000 shares of Alight stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average price of $2.33 per share, with a total value of $233,000.00. Following the completion of the transaction, the director owned 100,000 shares of the company’s stock, valued at $233,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kausik Rajgopal acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was acquired at an average price of $2.24 per share, with a total value of $89,600.00. Following the acquisition, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This represents a 46.95% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 193,116 shares of company stock valued at $448,984. Corporate insiders own 1.93% of the company’s stock.

Alight Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.