Bayesian Capital Management LP Takes Position in Alight, Inc. (NYSE:ALIT)

Bayesian Capital Management LP bought a new stake in Alight, Inc. (NYSE:ALIT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 119,181 shares of the company's stock, valued at approximately $825,000.

A number of other hedge funds have also modified their holdings of ALIT. Barclays PLC boosted its stake in Alight by 148.2% during the third quarter. Barclays PLC now owns 815,841 shares of the company's stock worth $6,037,000 after buying an additional 487,185 shares during the period. JPMorgan Chase & Co. increased its holdings in Alight by 202.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock valued at $13,794,000 after purchasing an additional 1,248,465 shares during the last quarter. Blue Trust Inc. raised its position in Alight by 107.6% in the fourth 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 period. KBC Group NV boosted its position in shares of Alight by 89.2% during the fourth quarter. KBC Group NV now owns 22,802 shares of the company's stock worth $158,000 after buying an additional 10,753 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Alight in the fourth quarter valued at $893,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALIT. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 target price on shares of Alight in a research report on Monday, March 24th. Wedbush cut their target price on shares of Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, DA Davidson restated a "buy" rating and issued a $10.00 price target on shares of Alight in a research note 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $9.94.

Insider Buying and Selling

In other Alight news, Director Richard N. Massey acquired 100,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price 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 of the company's stock, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the purchase, the director now directly owns 22,092 shares of the company's stock, valued at approximately $150,004.68. This trade 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 valued at $807,755 over the last three months. 5.33% of the stock is currently owned by company insiders.

Alight Stock Down 0.5 %

ALIT stock traded down $0.03 during midday trading on Friday, reaching $5.58. 5,460,410 shares of the company were exchanged, compared to its average volume of 6,310,328. The stock's 50-day simple moving average is $5.55 and its 200 day simple moving average is $6.57. Alight, Inc. has a 1-year low of $4.49 and a 1-year high of $8.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap 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 announced its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $548.00 million for the quarter, compared to analysts' expectations of $542.66 million. During the same quarter last year, the business posted $0.13 earnings per share. The business's revenue was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid 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 -53.33%.

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.