Alight, Inc. (NYSE:ALIT) is Bayberry Capital Partners LP's 7th Largest Position

Bayberry Capital Partners LP reduced its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 38.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,500,000 shares of the company's stock after selling 1,530,000 shares during the period. Alight makes up 6.6% of Bayberry Capital Partners LP's portfolio, making the stock its 7th biggest position. Bayberry Capital Partners LP owned approximately 0.46% of Alight worth $17,300,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after purchasing an additional 1,729 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Alight in the 4th quarter worth approximately $50,000. Headlands Technologies LLC bought a new position in Alight in the 4th quarter valued at approximately $84,000. Sterling Capital Management LLC increased its holdings in shares of 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 purchasing an additional 11,783 shares in the last quarter. Finally, Winslow Asset Management Inc. purchased 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.

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 bought 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 approximately $10,054,594.71. This represents a 6.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 125,092 shares of company stock worth $807,755 over the last 90 days. 5.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Alight Price Performance

Shares of ALIT stock traded down $0.02 on Friday, hitting $5.59. 3,519,890 shares of the stock traded hands, compared to its average volume of 6,358,174. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a 52 week low of $4.49 and a 52 week high of $8.93. The firm has a 50 day simple moving average of $5.55 and a two-hundred day simple moving average of $6.57. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -18.63 and a beta of 0.99.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.10 EPS 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 during the quarter, compared to analysts' expectations of $542.66 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Alight's revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

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 is presently -53.33%.

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.