34,956 Shares in Alight, Inc. (NYSE:ALIT) Purchased by Cresset Asset Management LLC

Cresset Asset Management LLC acquired a new position in Alight, Inc. (NYSE:ALIT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,956 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares during the period. Cornerstone Investment Partners LLC increased its position in shares of Alight by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock worth $468,000 after acquiring an additional 2,356 shares during the period. Xponance Inc. increased its position in shares of Alight by 8.8% during the fourth quarter. Xponance Inc. now owns 30,229 shares of the company’s stock worth $209,000 after acquiring an additional 2,437 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Alight by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company’s stock worth $309,000 after acquiring an additional 3,273 shares during the period. Finally, US Bancorp DE increased its position in shares of Alight by 17.5% during the fourth quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after acquiring an additional 3,576 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alight

In other news, Director Robert A. Schriesheim bought 22,092 shares of the stock in a transaction on Monday, March 3rd. The stock was bought 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 in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Massey bought 100,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased 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 owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. This represents a 6.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 125,092 shares of company stock worth $807,755 over the last three months. Corporate insiders own 5.33% of the company’s stock.

Alight Price Performance

NYSE ALIT opened at $5.78 on Friday. 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 firm’s 50 day moving average price is $5.49 and its 200-day moving average price is $6.51. Alight, Inc. has a 52-week low of $4.49 and a 52-week high of $8.93. The company has a market cap of $3.14 billion, a PE ratio of -19.25 and a beta of 0.99.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. Alight’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 2.77%. Alight’s dividend payout ratio (DPR) is -114.29%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALIT shares. Wedbush reduced their target price on shares of Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. DA Davidson reaffirmed a “buy” rating and set a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Alight in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and a consensus price target of $9.94.

Alight Company 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.