BW Gestao de Investimentos Ltda. Makes New Investment in Alight, Inc. (NYSE:ALIT)

BW Gestao de Investimentos Ltda. acquired a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,829,638 shares of the company's stock, valued at approximately $19,581,000. Alight makes up 0.6% of BW Gestao de Investimentos Ltda.'s holdings, making the stock its 14th largest position. BW Gestao de Investimentos Ltda. owned 0.52% of Alight at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Alight during the 4th quarter valued at about $35,045,000. Cooper Creek Partners Management LLC grew its position in shares of Alight by 23.1% in the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock valued at $122,514,000 after purchasing an additional 3,322,705 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Alight by 214.0% in the fourth quarter. American Century Companies Inc. now owns 4,600,961 shares of the company's stock valued at $31,839,000 after purchasing an additional 3,135,846 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of Alight by 13.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock valued at $168,130,000 after purchasing an additional 2,901,108 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Alight by 94.6% during the fourth quarter. Bank of New York Mellon Corp now owns 4,155,792 shares of the company's stock worth $28,758,000 after buying an additional 2,020,648 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now directly owns 22,092 shares of the company's stock, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the purchase, the director now directly owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 125,092 shares of company stock worth $807,755 over the last three months. Company insiders own 5.33% of the company's stock.

Alight Trading Down 0.4 %

Shares of Alight stock traded down $0.02 on Friday, reaching $5.59. The company had a trading volume of 3,699,766 shares, compared to its average volume of 6,359,053. The firm's 50 day moving average price is $5.55 and its two-hundred day moving average price is $6.57. 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 52-week low of $4.49 and a 52-week high of $8.93. The firm has a market cap of $3.04 billion, a PE ratio of -18.63 and a beta of 0.99.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results 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 5.42% and a negative net margin of 5.53%. The firm had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts predict that Alight, Inc. will post 0.54 earnings per share 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 given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.86%. The ex-dividend date is Monday, June 2nd. Alight's dividend payout ratio is currently -53.33%.

Wall Street Analysts Forecast Growth

ALIT has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 target price on shares of Alight in a research note on Monday, March 24th. 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 note on Friday. Finally, DA Davidson reissued a "buy" rating and issued a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $9.94.

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.