Alyeska Investment Group L.P. Has $31.67 Million Stock Position in Alight, Inc. (NYSE:ALIT)

Alyeska Investment Group L.P. grew its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,576,095 shares of the company's stock after acquiring an additional 261,635 shares during the period. Alyeska Investment Group L.P. owned 0.84% of Alight worth $31,667,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Barclays PLC raised its holdings in Alight by 148.2% during the third quarter. Barclays PLC now owns 815,841 shares of the company's stock valued at $6,037,000 after buying an additional 487,185 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Alight by 9.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 119,700 shares of the company's stock valued at $868,000 after acquiring an additional 10,800 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alight by 202.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock worth $13,794,000 after purchasing an additional 1,248,465 shares during the last quarter. Blue Trust Inc. boosted its position in Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after purchasing an additional 1,729 shares during the period. Finally, KBC Group NV boosted its position in Alight by 89.2% during the fourth quarter. KBC Group NV now owns 22,802 shares of the company's stock worth $158,000 after purchasing an additional 10,753 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 acquired at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now directly owns 22,092 shares of the company's stock, valued at $150,004.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard N. Massey bought 100,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $6.39 per share, with a total value of $639,000.00. Following the purchase, 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 acquired a total of 125,092 shares of company stock worth $807,755 over the last quarter. Company insiders own 5.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ALIT shares. Needham & Company LLC restated a "buy" rating and issued a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. DA Davidson reaffirmed a "buy" rating and issued a $10.00 price target on shares of Alight in a research report on Wednesday, March 26th. Finally, Wedbush cut their price target on Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.94.

Alight Stock Performance

Shares of NYSE:ALIT traded down $0.02 during trading on Friday, hitting $5.59. 3,074,707 shares of the stock were exchanged, compared to its average volume of 6,356,367. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -18.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a 1-year low of $4.49 and a 1-year high of $8.93. The company's fifty day simple moving average is $5.55 and its 200-day simple moving average is $6.57.

Alight (NYSE:ALIT - Get Free Report) last posted 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 positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's dividend payout ratio (DPR) is presently -53.33%.

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.