Bridgefront Capital LLC Acquires Shares of 51,188 Alight, Inc. (NYSE:ALIT)

Bridgefront Capital LLC purchased a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 51,188 shares of the company's stock, valued at approximately $354,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BW Gestao de Investimentos Ltda. bought a new position in shares of Alight in the fourth quarter valued at approximately $19,581,000. Bayesian Capital Management LP acquired a new stake in Alight in the fourth quarter valued at approximately $825,000. BNP Paribas Financial Markets acquired a new position in shares of Alight during the 4th quarter valued at about $8,829,000. Ameriprise Financial Inc. boosted its holdings in Alight by 18.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock valued at $87,686,000 after acquiring an additional 2,015,579 shares during the period. Finally, Alyeska Investment Group L.P. increased its holdings in shares of Alight by 6.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,576,095 shares of the company's stock worth $31,667,000 after purchasing an additional 261,635 shares during the period. 96.74% of the stock is owned by institutional investors.

Alight Stock Performance

Shares of ALIT traded up $0.21 during trading hours on Monday, reaching $5.78. 3,423,541 shares of the company traded hands, compared to its average volume of 6,271,458. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $8.93. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.14 billion, a P/E ratio of -19.25 and a beta of 0.99. The business has a fifty day moving average price of $5.54 and a 200-day moving average price of $6.55.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $542.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 annualized dividend and a dividend yield of 2.77%. Alight's dividend payout ratio is presently -114.29%.

Insider Activity at Alight

In related news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard N. Massey acquired 100,000 shares of the firm'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 owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. This represents a 6.79% increase in their position. The disclosure for this purchase can be found here. Insiders bought 125,092 shares of company stock valued at $807,755 over the last 90 days. 5.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on ALIT. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price objective on shares of Alight in a report on Monday, March 24th. Wedbush reduced their price target on Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday. Finally, DA Davidson reaffirmed a "buy" rating and issued a $10.00 target price 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 given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $9.94.

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.