Bayesian Capital Management LP Makes New Investment in Alight, Inc. (NYSE:ALIT)

Bayesian Capital Management LP 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 SEC. The fund bought 119,181 shares of the company's stock, valued at approximately $825,000.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Alight by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock valued at $282,898,000 after buying an additional 292,911 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of Alight by 13.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock valued at $168,130,000 after buying an additional 2,901,108 shares during the period. Dimensional Fund Advisors LP lifted its position in Alight by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock worth $157,215,000 after purchasing an additional 1,153,963 shares during the period. Cooper Creek Partners Management LLC boosted its stake in Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock worth $122,514,000 after buying an additional 3,322,705 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Alight by 18.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock valued at $87,686,000 after buying an additional 2,015,579 shares during the period. Institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Alight

In other Alight news, Director Robert A. Schriesheim acquired 22,092 shares of the company'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 purchase, the director now owns 22,092 shares of the company's stock, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Massey purchased 100,000 shares of the business's stock in a transaction 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 in the company, 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. Insiders purchased a total of 125,092 shares of company stock valued at $807,755 in the last quarter. Insiders own 5.33% of the company's stock.

Alight Stock Performance

NYSE ALIT traded down $0.03 during trading on Friday, reaching $5.58. The company's stock had a trading volume of 5,460,410 shares, compared to its average volume of 6,281,654. 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 firm has a 50 day moving average price of $5.54 and a 200 day moving average price of $6.55. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -18.60 and a beta of 0.99.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's dividend payout ratio (DPR) is presently -114.29%.

Alight 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.