Css LLC Il Grows Stock Position in Alight, Inc. (NYSE:ALIT)

Css LLC Il lifted its stake in Alight, Inc. (NYSE:ALIT) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 230,874 shares of the company’s stock after buying an additional 16,887 shares during the quarter. Css LLC Il’s holdings in Alight were worth $1,598,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its position in Alight by 107.6% during 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 in the last quarter. Cornerstone Investment Partners LLC boosted its position in 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 purchasing an additional 2,356 shares in the last quarter. Xponance Inc. grew its stake in Alight by 8.8% in the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock valued at $209,000 after acquiring an additional 2,437 shares during the period. Shay Capital LLC lifted its holdings in Alight by 2.4% during the fourth quarter. Shay Capital LLC now owns 128,000 shares of the company’s stock valued at $886,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake 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 purchasing an additional 3,273 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

ALIT has been the topic of several research reports. Wedbush decreased their target price on 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 reissued a “buy” rating and issued a $10.00 target price on shares of Alight in a research note on Wednesday, March 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Alight in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.94.

Insider Transactions at Alight

In related news, Director David D. Guilmette bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average cost of $5.69 per share, for a total transaction of $284,500.00. Following the completion of the acquisition, the director now owns 600,750 shares in the company, valued at approximately $3,418,267.50. This trade represents a 9.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert A. Schriesheim purchased 22,092 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 175,092 shares of company stock worth $1,092,255 over the last ninety days. Company insiders own 5.33% of the company’s stock.

Alight Trading Down 0.7%

ALIT opened at $5.67 on Wednesday. The stock has a market capitalization of $3.08 billion, a PE ratio of -18.90 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a one year low of $4.49 and a one year high of $8.93. The business’s 50 day moving average price is $5.48 and its 200 day moving average price is $6.49.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.10 earnings per share 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 company had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. Alight’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd. Alight’s dividend payout ratio (DPR) is -114.29%.

About Alight

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.