Alight, Inc. (NYSE:ALIT) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 52.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,546 shares of the company's stock after buying an additional 60,909 shares during the period. First Trust Advisors LP's holdings in Alight were worth $1,222,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Alight by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock worth $157,215,000 after acquiring an additional 1,153,963 shares during the period. Canada Pension Plan Investment Board purchased a new position in Alight in the 4th quarter valued at approximately $517,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Alight by 107.3% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 116,800 shares of the company's stock valued at $808,000 after acquiring an additional 60,450 shares during the period. Gabelli Funds LLC boosted its holdings in shares of Alight by 112.5% in the fourth quarter. Gabelli Funds LLC now owns 87,650 shares of the company's stock worth $607,000 after acquiring an additional 46,400 shares during the period. Finally, Barclays PLC grew its position in shares of Alight by 121.6% in the fourth quarter. Barclays PLC now owns 1,808,037 shares of the company's stock valued at $12,512,000 after purchasing an additional 992,196 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Down 0.5 %

Shares of NYSE:ALIT traded down $0.03 during midday trading on Friday, reaching $5.58. The company's stock had a trading volume of 5,460,410 shares, compared to its average volume of 6,281,654. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $8.93. The firm has a market capitalization of $3.03 billion, a P/E ratio of -18.60 and a beta of 0.99. The firm has a 50 day moving average of $5.54 and a 200-day moving average of $6.55. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

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 the consensus estimate of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. Alight's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. On average, research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.87%. Alight's dividend payout ratio is presently -114.29%.

Analyst Ratings Changes

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

Insider Buying and Selling at Alight

In related news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 acquired at an average cost of $6.39 per share, with a total value of $639,000.00. Following the completion of the acquisition, the director now 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 90 days, insiders have bought 125,092 shares of company stock valued at $807,755. 5.33% of the stock is owned by company insiders.

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.