Bridgefront Capital LLC Acquires New Stake in Alight, Inc. (NYSE:ALIT)

Bridgefront Capital LLC bought a new stake in Alight, Inc. (NYSE:ALIT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 51,188 shares of the company's stock, valued at approximately $354,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Alight during the fourth quarter valued at approximately $19,581,000. Bayesian Capital Management LP purchased a new stake in Alight during the 4th quarter worth $825,000. BNP Paribas Financial Markets acquired a new position in Alight in the 4th quarter worth $8,829,000. Ameriprise Financial Inc. boosted its position 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 last quarter. Finally, Alyeska Investment Group L.P. grew its stake in shares of Alight by 6.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,576,095 shares of the company's stock valued at $31,667,000 after acquiring an additional 261,635 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wedbush cut their price target on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday. 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. Finally, DA Davidson reissued a "buy" rating and set a $10.00 price target on shares of Alight in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Alight presently has an average rating of "Moderate Buy" and a consensus target price of $9.94.

Alight Stock Performance

ALIT traded down $0.03 during trading hours on Friday, hitting $5.58. 5,460,410 shares of the stock were exchanged, compared to its average volume of 6,310,331. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -18.60 and a beta of 0.99. The stock has a 50-day simple moving average of $5.54 and a 200-day simple moving average of $6.56. 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 12 month low of $4.49 and a 12 month high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly 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). The business had revenue of $548.00 million during the quarter, compared to the consensus estimate of $542.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The company's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. Analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current 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 given a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.87%. Alight's dividend payout ratio is currently -114.29%.

Insider Buying and Selling

In other news, Director Richard N. Massey purchased 100,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price 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 approximately $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 125,092 shares of company stock worth $807,755 in the last three months. 5.33% of the stock is owned by insiders.

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.