BNP Paribas Financial Markets Makes New $8.83 Million Investment in Alight, Inc. (NYSE:ALIT)

BNP Paribas Financial Markets acquired a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,275,931 shares of the company's stock, valued at approximately $8,829,000. BNP Paribas Financial Markets owned about 0.23% of Alight at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Barclays PLC boosted its stake in Alight by 148.2% in the third quarter. Barclays PLC now owns 815,841 shares of the company's stock worth $6,037,000 after purchasing an additional 487,185 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Alight by 202.8% in the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock worth $13,794,000 after purchasing an additional 1,248,465 shares in the last quarter. Blue Trust Inc. boosted its stake in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after purchasing an additional 1,729 shares in the last quarter. KBC Group NV boosted its stake in Alight by 89.2% in the fourth quarter. KBC Group NV now owns 22,802 shares of the company's stock worth $158,000 after purchasing an additional 10,753 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in Alight in the fourth quarter worth $893,000. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Activity at Alight

In related news, Director Richard N. Massey acquired 100,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. This trade represents a 6.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert A. Schriesheim purchased 22,092 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now directly 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 disclosure for this purchase can be found here. Over the last quarter, insiders purchased 125,092 shares of company stock worth $807,755. 5.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ALIT has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Wedbush dropped 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, May 9th. Finally, DA Davidson restated a "buy" rating and set a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Alight currently has an average rating of "Moderate Buy" and a consensus price target of $9.94.

Alight Trading Up 0.4%

Shares of ALIT stock traded up $0.03 on Friday, reaching $5.78. 7,026,055 shares of the stock were exchanged, compared to its average volume of 6,304,135. The stock has a market cap of $3.14 billion, a PE ratio of -19.25 and a beta of 0.99. Alight, Inc. has a one year low of $4.49 and a one year high of $8.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a 50 day moving average price of $5.49 and a 200 day moving average price of $6.51.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $548.00 million during 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 company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. Equities research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.04 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.77%. Alight's dividend payout ratio is presently -114.29%.

Alight Company 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.