MYDA Advisors LLC Boosts Stock Position in Alight, Inc. (NYSE:ALIT)

MYDA Advisors LLC raised its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 220.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 80,000 shares of the company's stock after acquiring an additional 55,000 shares during the quarter. MYDA Advisors LLC's holdings in Alight were worth $554,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Alight by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock worth $282,898,000 after purchasing an additional 292,911 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Alight by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock valued at $157,215,000 after acquiring an additional 1,153,963 shares during the last quarter. Cooper Creek Partners Management LLC increased its position in Alight by 23.1% during the 4th 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 during the period. Geode Capital Management LLC lifted its position in shares of Alight by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company's stock worth $74,521,000 after purchasing an additional 77,948 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Alight by 11.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company's stock worth $46,430,000 after buying an additional 712,912 shares during the period. Institutional investors own 96.74% of the company's stock.

Wall Street Analysts Forecast Growth

ALIT has been the subject of several research analyst reports. DA Davidson reissued a "buy" rating and issued a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. Wedbush reiterated an "outperform" rating and set a $11.00 target price on shares of Alight in a research report on Tuesday, March 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 price target on shares of Alight in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $10.19.

Insider Buying and Selling

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price 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 $150,004.68. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available 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 stock was bought at an average price of $6.39 per share, with a total value 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. This represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 125,092 shares of company stock worth $807,755. Corporate insiders own 5.33% of the company's stock.

Alight Stock Down 1.2 %

Shares of ALIT stock traded down $0.07 on Friday, hitting $5.21. The stock had a trading volume of 3,279,991 shares, compared to its average volume of 6,211,924. 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 business has a 50 day moving average of $5.86 and a 200 day moving average of $6.70. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $9.45. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -17.28 and a beta of 0.97.

Alight (NYSE:ALIT - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The company had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. As a group, analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 3.07%. Alight's payout ratio is currently -53.33%.

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.