J. Goldman & Co LP Grows Position in Alight, Inc. (NYSE:ALIT)

J. Goldman & Co LP raised its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 105.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,774,590 shares of the company's stock after purchasing an additional 2,961,443 shares during the quarter. Alight accounts for about 1.0% of J. Goldman & Co LP's portfolio, making the stock its 17th largest position. J. Goldman & Co LP owned about 1.06% of Alight worth $39,960,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Alight in the 4th quarter worth about $35,045,000. Cooper Creek Partners Management LLC lifted its holdings in shares of Alight by 23.1% in the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock worth $122,514,000 after acquiring an additional 3,322,705 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Alight by 214.0% in the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company's stock worth $31,839,000 after acquiring an additional 3,135,846 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Alight by 13.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock worth $168,130,000 after acquiring an additional 2,901,108 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of Alight in the 4th quarter worth about $19,581,000. Institutional investors own 96.74% of the company's stock.

Alight Stock Down 0.7%

NYSE ALIT traded down $0.04 during trading on Wednesday, reaching $5.85. 6,041,515 shares of the company's stock traded hands, compared to its average volume of 6,302,199. 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 firm has a market cap of $3.18 billion, a price-to-earnings ratio of -19.50 and a beta of 0.99. The company's 50 day simple moving average is $5.51 and its two-hundred day simple moving average is $6.53. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last posted its 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). The business had revenue of $548.00 million for the quarter, compared to analysts' expectations of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. As a group, sell-side analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm 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 dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's dividend payout ratio (DPR) is -114.29%.

Insider Buying and Selling at Alight

In other news, Director Richard N. Massey acquired 100,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert A. Schriesheim acquired 22,092 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was purchased 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 disclosure for this purchase can be found here. In the last quarter, insiders have acquired 125,092 shares of company stock valued at $807,755. Company insiders own 5.33% of the company's stock.

Wall Street Analyst Weigh In

ALIT has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and issued a $9.00 target price on shares of Alight in a report on Monday, March 24th. DA Davidson restated a "buy" rating and issued a $10.00 target price on shares of Alight in a report on Wednesday, March 26th. Finally, Wedbush reduced their price target on shares of Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Alight currently has a consensus rating of "Moderate Buy" and a consensus 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.