Bayberry Capital Partners LP Lowers Stake in Alight, Inc. (NYSE:ALIT)

Bayberry Capital Partners LP decreased its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,500,000 shares of the company's stock after selling 1,530,000 shares during the quarter. Alight makes up 6.6% of Bayberry Capital Partners LP's investment portfolio, making the stock its 7th biggest holding. Bayberry Capital Partners LP owned approximately 0.46% of Alight worth $17,300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. raised its stake 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 during the last quarter. Venturi Wealth Management LLC acquired a new stake in Alight during the 4th quarter worth about $50,000. Headlands Technologies LLC bought a new position in shares of Alight in the 4th quarter worth about $84,000. Sterling Capital Management LLC lifted its stake 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 valued at $92,000 after purchasing an additional 11,783 shares during the period. Finally, Winslow Asset Management Inc. bought a new stake in shares of Alight during the 4th quarter valued at about $93,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Up 0.8 %

ALIT traded up $0.04 during trading on Wednesday, hitting $5.25. 11,597,405 shares of the company's stock were exchanged, compared to its average volume of 6,431,320. Alight, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $8.93. The stock has a market cap of $2.85 billion, a P/E ratio of -17.50 and a beta of 0.99. The business's 50 day moving average is $5.60 and its two-hundred day moving average is $6.59. 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 announced its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The company had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. As a group, equities analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company 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 dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, June 2nd. Alight's payout ratio is currently -53.33%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was bought 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 of the company's stock, valued at $150,004.68. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard N. Massey acquired 100,000 shares of the business's stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 125,092 shares of company stock worth $807,755. 5.33% of the stock is owned by 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.