Cruiser Capital Advisors LLC Sells 22,859 Shares of Alight, Inc. (NYSE:ALIT)

Cruiser Capital Advisors LLC cut its stake in Alight, Inc. (NYSE:ALIT) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 515,451 shares of the company’s stock after selling 22,859 shares during the period. Alight comprises about 2.0% of Cruiser Capital Advisors LLC’s holdings, making the stock its 8th largest holding. Cruiser Capital Advisors LLC owned about 0.09% of Alight worth $3,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC grew its position in shares of Alight by 147.1% during the fourth quarter. EntryPoint Capital LLC now owns 50,079 shares of the company’s stock worth $347,000 after buying an additional 29,812 shares in the last quarter. Prudential Financial Inc. lifted its stake in Alight by 39.4% in the fourth quarter. Prudential Financial Inc. now owns 525,010 shares of the company’s stock worth $3,633,000 after acquiring an additional 148,350 shares during the last quarter. Vanguard Group Inc. grew its holdings in Alight by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock worth $282,898,000 after acquiring an additional 292,911 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Alight in the 4th quarter valued at approximately $283,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Alight in the 4th quarter valued at $585,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alight

In other news, Director Richard N. Massey bought 100,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the acquisition, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the purchase, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 125,092 shares of company stock worth $807,755 in the last quarter. Company insiders own 5.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Alight in a research note on Monday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and a consensus price target of $10.31.

Alight Stock Up 2.9 %

ALIT opened at $6.24 on Tuesday. Alight, Inc. has a one year low of $5.87 and a one year high of $10.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $3.39 billion, a P/E ratio of -20.78 and a beta of 0.94. The business’s 50-day simple moving average is $6.61 and its 200-day simple moving average is $7.03.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. Analysts anticipate 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, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio is currently -53.33%.

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.