Canada Pension Plan Investment Board Buys Shares of 74,700 Alight, Inc. (NYSE:ALIT)

Canada Pension Plan Investment Board bought a new stake in Alight, Inc. (NYSE:ALIT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 74,700 shares of the company's stock, valued at approximately $517,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Alight by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock worth $282,898,000 after purchasing an additional 292,911 shares during the period. Cooper Creek Partners Management LLC increased its position in Alight by 23.1% during the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock worth $122,514,000 after purchasing an additional 3,322,705 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Alight by 11.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company's stock valued at $46,430,000 after buying an additional 712,912 shares during the period. Kinney Asset Management LLC lifted its position in Alight by 4.0% during the fourth quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company's stock valued at $44,963,000 after buying an additional 250,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Alight by 10.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,429,362 shares of the company's stock worth $37,571,000 after buying an additional 530,769 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Activity at Alight

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost 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 in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 125,092 shares of company stock valued at $807,755 over the last three months. 5.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ALIT has been the topic of a number of research reports. Needham & Company LLC reissued a "buy" rating and issued a $9.00 target price on shares of Alight in a research note on Monday, March 24th. DA Davidson reissued a "buy" rating and issued a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. Finally, Wedbush restated an "outperform" rating and set a $11.00 price objective on shares of Alight in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Alight has a consensus rating of "Moderate Buy" and an average target price of $10.19.

Alight Stock Down 3.2 %

Shares of ALIT traded down $0.17 during trading on Wednesday, reaching $5.11. The company's stock had a trading volume of 14,234,350 shares, compared to its average volume of 6,354,016. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $9.45. 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 company has a market cap of $2.78 billion, a price-to-earnings ratio of -17.03 and a beta of 0.97. The company has a fifty day moving average of $5.74 and a two-hundred day moving average of $6.65.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). The company had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. On average, sell-side analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 3.13%. Alight's dividend payout ratio (DPR) is -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.