FPR Partners LLC Has $146.76 Million Stake in Alight, Inc. (NYSE:ALIT)

FPR Partners LLC lowered its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,208,290 shares of the company's stock after selling 947,894 shares during the quarter. Alight accounts for about 16.1% of FPR Partners LLC's holdings, making the stock its 2nd largest position. FPR Partners LLC owned approximately 3.91% of Alight worth $146,761,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. EP Wealth Advisors LLC acquired a new stake in shares of Alight during the 4th quarter valued at about $183,000. Cresset Asset Management LLC bought a new stake in Alight in the fourth quarter worth approximately $242,000. Bridgefront Capital LLC bought a new stake in Alight in the fourth quarter worth approximately $354,000. BW Gestao de Investimentos Ltda. bought a new stake in Alight in the fourth quarter worth approximately $19,581,000. Finally, Bayesian Capital Management LP bought a new stake in Alight in the fourth quarter worth approximately $825,000. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Buying and Selling at Alight

In other Alight news, Director Robert A. Schriesheim bought 22,092 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now 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 legal filing with the SEC, which is available through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the firm's stock in a transaction dated 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 owns 1,573,489 shares in the company, valued at $10,054,594.71. This represents a 6.79% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 125,092 shares of company stock valued at $807,755 in the last ninety days. Company insiders own 5.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ALIT. DA Davidson reissued a "buy" rating and issued a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. Wedbush decreased their target price on shares of Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $9.00 target price on shares of Alight in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.94.

Alight Stock Performance

Shares of NYSE ALIT traded up $0.11 during trading hours on Tuesday, hitting $5.90. 4,212,694 shares of the stock were exchanged, compared to its average volume of 6,323,785. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The company's 50 day moving average is $5.52 and its 200 day moving average is $6.54. The firm has a market capitalization of $3.20 billion, a P/E ratio of -19.67 and a beta of 0.99. Alight, Inc. has a one year low of $4.49 and a one year high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $542.66 million. During the same period last year, the company earned $0.13 earnings per share. Alight's revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Monday, June 2nd. Alight's dividend payout ratio (DPR) is presently -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.