Aquatic Capital Management LLC Acquires New Stake in Alight, Inc. (NYSE:ALIT)

Aquatic Capital Management LLC acquired a new stake in shares of Alight, Inc. (NYSE:ALIT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 209,423 shares of the company’s stock, valued at approximately $1,449,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Alight by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock valued at $282,898,000 after buying an additional 292,911 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alight by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company’s stock valued at $157,215,000 after purchasing an additional 1,153,963 shares during the last quarter. Cooper Creek Partners Management LLC boosted its position in Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock worth $122,514,000 after purchasing an additional 3,322,705 shares during the period. Victory Capital Management Inc. increased its stake in shares of Alight by 11.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company’s stock worth $46,430,000 after purchasing an additional 712,912 shares in the last quarter. Finally, Kinney Asset Management LLC raised its position in shares of Alight by 4.0% in the fourth quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company’s stock valued at $44,963,000 after purchasing an additional 250,000 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alight

In other news, Director Richard N. Massey bought 100,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the purchase, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the purchase, the director now directly owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 125,092 shares of company stock worth $807,755. 5.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Alight Trading Up 1.3 %

Shares of ALIT opened at $5.28 on Wednesday. Alight, Inc. has a 1-year low of $4.49 and a 1-year high of $9.45. The company has a market capitalization of $2.87 billion, a P/E ratio of -17.60 and a beta of 0.97. 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 firm’s 50 day simple moving average is $5.77 and its 200 day simple moving average is $6.66.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $675.66 million. Sell-side analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio (DPR) 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.