FNY Investment Advisers LLC Acquires New Shares in Alight, Inc. (NYSE:ALIT)

FNY Investment Advisers LLC acquired a new stake in shares of Alight, Inc. (NYSE:ALIT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,921 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALIT. Blue Trust Inc. boosted its position in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the period. GAMMA Investing LLC boosted its position in Alight by 5,505.8% during the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company’s stock valued at $46,000 after purchasing an additional 7,653 shares during the period. Public Employees Retirement System of Ohio boosted its position in Alight by 40.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock valued at $49,000 after purchasing an additional 2,059 shares during the period. Venturi Wealth Management LLC acquired a new position in Alight during the 4th quarter valued at approximately $50,000. Finally, Sandia Investment Management LP acquired a new position in Alight during the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Transactions at Alight

In other news, Director David D. Guilmette acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were bought at an average price of $5.69 per share, with a total value of $284,500.00. Following the purchase, the director now owns 600,750 shares of the company’s stock, valued at approximately $3,418,267.50. This represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.93% of the company’s stock.

Alight Trading Down 0.6%

Shares of ALIT stock opened at $5.24 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $8.93. The stock has a fifty day moving average of $5.34 and a two-hundred day moving average of $6.17. The firm has a market capitalization of $2.82 billion, a PE ratio of -37.43 and a beta of 1.00.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. The firm had revenue of $548.00 million during the quarter, compared to the consensus estimate of $542.66 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, research analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, June 2nd. Alight’s dividend payout ratio is presently -114.29%.

Analyst Ratings Changes

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

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.