Canada Pension Plan Investment Board Makes New $517,000 Investment in Alight, Inc. (NYSE:ALIT)

Canada Pension Plan Investment Board acquired a new stake in shares of Alight, Inc. (NYSE:ALIT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 74,700 shares of the company’s stock, valued at approximately $517,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after acquiring an additional 1,729 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Alight in the 4th quarter worth approximately $50,000. Headlands Technologies LLC acquired a new position in Alight during the 4th quarter valued at approximately $84,000. Sterling Capital Management LLC grew its stake in Alight by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 13,224 shares of the company’s stock worth $92,000 after buying an additional 11,783 shares during the last quarter. Finally, Winslow Asset Management Inc. acquired a new stake in Alight in the fourth quarter worth $93,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALIT. Wedbush reissued an “outperform” rating and set a $11.00 price target on shares of Alight in a report on Tuesday, March 25th. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Alight in a research report on Monday, March 24th. Finally, DA Davidson reiterated a “buy” rating and set a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.19.

Alight Trading Up 4.2 %

Alight stock opened at $5.28 on Friday. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $9.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $2.86 billion, a PE ratio of -17.58 and a beta of 0.97. The firm has a 50 day simple moving average of $5.86 and a 200-day simple moving average of $6.70.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. As a group, equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s payout ratio is -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.