Arrowstreet Capital Limited Partnership Purchases New Position in Alight, Inc. (NYSE:ALIT)

Arrowstreet Capital Limited Partnership bought a new stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 93,129 shares of the company's stock, valued at approximately $644,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in Alight by 44.4% in the 3rd quarter. FMR LLC now owns 11,995 shares of the company's stock valued at $89,000 after purchasing an additional 3,689 shares during the period. Verition Fund Management LLC increased its holdings in Alight by 288.3% during the third quarter. Verition Fund Management LLC now owns 48,776 shares of the company's stock worth $361,000 after buying an additional 36,216 shares during the last quarter. State Street Corp raised its position in Alight by 1.2% in the third quarter. State Street Corp now owns 11,905,766 shares of the company's stock worth $88,103,000 after acquiring an additional 141,828 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Alight in the third quarter valued at about $588,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock valued at $37,000 after acquiring an additional 1,996 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. DA Davidson reiterated a "buy" rating and set a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price target on shares of Alight in a research report on Monday, March 24th. Finally, Wedbush reiterated an "outperform" rating and issued a $11.00 price objective on shares of Alight in a research note on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $10.19.

Alight Stock Down 1.3 %

Shares of NYSE ALIT traded down $0.07 during trading on Thursday, reaching $4.97. The company had a trading volume of 1,632,615 shares, compared to its average volume of 6,039,433. The business's 50-day moving average is $6.07 and its 200 day moving average is $6.80. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.70 billion, a PE ratio of -16.58 and a beta of 0.97. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $9.45.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data 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). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The company had revenue of $680.00 million for the quarter, compared to analysts' expectations of $675.66 million. As a group, equities analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's dividend payout ratio is presently -53.33%.

Insiders Place Their Bets

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were 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 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert A. Schriesheim acquired 22,092 shares of the business's stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 125,092 shares of company stock worth $807,755 over 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.