Ancora Advisors LLC Purchases 462,059 Shares of Alight, Inc. (NYSE:ALIT)

Ancora Advisors LLC increased its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 146.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 777,013 shares of the company's stock after purchasing an additional 462,059 shares during the period. Ancora Advisors LLC owned 0.14% of Alight worth $5,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in Alight by 107.6% during 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 during the period. Venturi Wealth Management LLC acquired a new stake in Alight in the fourth quarter worth $50,000. Headlands Technologies LLC bought a new stake in Alight in the 4th quarter valued at about $84,000. Sterling Capital Management LLC grew its holdings in Alight by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 13,224 shares of the company's stock worth $92,000 after buying an additional 11,783 shares in the last quarter. Finally, Winslow Asset Management Inc. bought a new position in shares of Alight in the fourth quarter worth $93,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. DA Davidson reiterated a "buy" rating and set a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and set a $9.00 target price on shares of Alight in a research note on Monday, March 24th. Finally, Wedbush cut their target price on shares of Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday. One 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, the company currently has an average rating of "Moderate Buy" and an average price target of $9.94.

Alight Stock Performance

ALIT traded down $0.02 during trading on Friday, hitting $5.59. The stock had a trading volume of 3,074,707 shares, compared to its average volume of 6,356,367. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a 12 month low of $4.49 and a 12 month high of $8.93. The company has a 50 day simple moving average of $5.55 and a 200-day simple moving average of $6.57. The firm has a market cap of $3.04 billion, a PE ratio of -18.63 and a beta of 0.99.

Alight (NYSE:ALIT - Get Free Report) last announced its 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). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. During the same quarter in the previous year, the company earned $0.13 EPS. Alight's revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

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

Insider Transactions at Alight

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % 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 Robert A. Schriesheim acquired 22,092 shares of the firm's 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 completion of the acquisition, the director now directly owns 22,092 shares of the company's stock, valued at approximately $150,004.68. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 125,092 shares of company stock worth $807,755. 5.33% of the stock is currently owned by company insiders.

Alight Company 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.