J. Goldman & Co LP Buys 2,961,443 Shares of Alight, Inc. (NYSE:ALIT)

J. Goldman & Co LP grew its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 105.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,774,590 shares of the company's stock after acquiring an additional 2,961,443 shares during the quarter. Alight comprises approximately 1.0% of J. Goldman & Co LP's portfolio, making the stock its 17th biggest position. J. Goldman & Co LP owned approximately 1.06% of Alight worth $39,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ALIT. Blue Trust Inc. increased its holdings in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after buying an additional 1,729 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Alight during the 4th quarter valued at about $50,000. Headlands Technologies LLC bought a new stake in shares of Alight in the fourth quarter worth approximately $84,000. Sterling Capital Management LLC grew its stake in shares of Alight by 817.7% in the fourth 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 during the period. Finally, Winslow Asset Management Inc. purchased a new position in shares of Alight during the fourth quarter valued at approximately $93,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALIT shares. 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 reissued a "buy" rating and set a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Finally, Wedbush cut their price objective on Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a 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. Based on data from MarketBeat.com, Alight currently has an average rating of "Moderate Buy" and a consensus target price of $9.94.

Insiders Place Their Bets

In other news, Director Richard N. Massey bought 100,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert A. Schriesheim bought 22,092 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 125,092 shares of company stock worth $807,755 over the last three months. 5.33% of the stock is currently owned by company insiders.

Alight Stock Performance

Shares of NYSE:ALIT traded up $0.03 during midday trading on Friday, hitting $5.78. The company had a trading volume of 7,026,055 shares, compared to its average volume of 6,309,849. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $8.93. The company has a fifty day moving average of $5.50 and a two-hundred day moving average of $6.52. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -19.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

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 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 company had revenue of $548.00 million during the quarter, compared to analysts' expectations of $542.66 million. During the same quarter in the previous year, the company earned $0.13 EPS. The business's quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company 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 dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, June 2nd. Alight's dividend payout ratio is currently -114.29%.

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.