Alight, Inc. (NYSE:ALIT) is FPR Partners LLC's 2nd Largest Position

FPR Partners LLC trimmed its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,208,290 shares of the company's stock after selling 947,894 shares during the period. Alight comprises 16.1% of FPR Partners LLC's holdings, making the stock its 2nd biggest holding. FPR Partners LLC owned approximately 3.91% of Alight worth $146,761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of 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 purchasing an additional 1,729 shares during the period. Venturi Wealth Management LLC bought a new stake in Alight during the 4th quarter valued at about $50,000. Headlands Technologies LLC purchased a new stake in Alight in the 4th quarter valued at about $84,000. Sterling Capital Management LLC grew its stake in Alight by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 13,224 shares of the company's stock worth $92,000 after acquiring an additional 11,783 shares in the last quarter. Finally, Winslow Asset Management Inc. purchased a new position in shares of Alight during the fourth quarter worth approximately $93,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Alight news, Director Robert A. Schriesheim bought 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. The trade was a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 125,092 shares of company stock worth $807,755 over the last quarter. 5.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ALIT shares. 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Finally, Wedbush cut 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Alight has an average rating of "Moderate Buy" and an average price target of $9.94.

Alight Stock Performance

Alight stock traded down $0.03 during mid-day trading on Friday, hitting $5.58. The company had a trading volume of 5,460,410 shares, compared to its average volume of 6,281,654. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -18.60 and a beta of 0.99. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $8.93. The company's fifty day moving average is $5.54 and its 200-day moving average is $6.55. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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 company had revenue of $548.00 million during the quarter, compared to analysts' expectations of $542.66 million. During the same period in the previous year, the firm posted $0.13 EPS. Alight's revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that Alight, Inc. will post 0.54 EPS for the current 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 issued a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.87%. Alight's payout ratio is currently -114.29%.

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.