Alight, Inc. (NYSE:ALIT) Stake Boosted by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC grew its position in Alight, Inc. (NYSE:ALIT - Free Report) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,296,295 shares of the company's stock after purchasing an additional 2,901,108 shares during the quarter. Alight comprises approximately 2.3% of ArrowMark Colorado Holdings LLC's investment portfolio, making the stock its 5th biggest position. ArrowMark Colorado Holdings LLC owned about 4.47% of Alight worth $168,130,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew 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 buying an additional 1,729 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Alight during the 4th quarter worth $50,000. Headlands Technologies LLC bought a new position in shares of Alight in the fourth quarter worth $84,000. Sterling Capital Management LLC lifted its position in Alight by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 13,224 shares of the company's stock worth $92,000 after purchasing an additional 11,783 shares during the period. Finally, Winslow Asset Management Inc. acquired a new stake in Alight during the fourth quarter worth about $93,000. Institutional investors own 96.74% of the company's stock.

Alight Stock Up 8.2 %

ALIT stock traded up $0.43 during trading on Thursday, reaching $5.66. 6,577,339 shares of the stock were exchanged, compared to its average volume of 6,433,135. 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 twelve month low of $4.49 and a twelve month high of $8.93. The firm's 50 day moving average is $5.57 and its 200 day moving average is $6.58. The firm has a market cap of $3.07 billion, a P/E ratio of -18.87 and a beta of 0.99.

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

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.83%. Alight's payout ratio is -53.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. DA Davidson reissued a "buy" rating and set a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Wedbush reaffirmed an "outperform" rating and set a $11.00 target price on shares of Alight in a report on Tuesday, March 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price target on shares of Alight in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Alight has a consensus rating of "Moderate Buy" and a consensus price target of $10.19.

Insider Buying and Selling at Alight

In related news, Director Richard N. Massey purchased 100,000 shares of Alight stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert A. Schriesheim bought 22,092 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares of the company's stock, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 125,092 shares of company stock valued at $807,755 in the last quarter. 5.33% of the stock is currently owned by corporate insiders.

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.