Alight, Inc. (NYSE:ALIT) Shares Sold by DME Capital Management LP

DME Capital Management LP decreased its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 71.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,353,026 shares of the company's stock after selling 8,493,184 shares during the period. Alight makes up approximately 1.2% of DME Capital Management LP's holdings, making the stock its 20th largest position. DME Capital Management LP owned approximately 0.62% of Alight worth $23,203,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ALIT. Vanguard Group Inc. lifted 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 valued at $282,898,000 after buying an additional 292,911 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Alight by 13.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock valued at $168,130,000 after buying an additional 2,901,108 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alight by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock valued at $157,215,000 after buying an additional 1,153,963 shares during the period. Cooper Creek Partners Management LLC boosted its holdings in Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock worth $122,514,000 after buying an additional 3,322,705 shares in the last quarter. Finally, 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 worth $87,686,000 after buying an additional 2,015,579 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Transactions at Alight

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $6.39 per share, with a total value of $639,000.00. Following the purchase, the director now owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. This 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 worth $807,755 in the last ninety days. Insiders own 5.33% of the company's stock.

Alight Trading Up 1.9%

Shares of NYSE:ALIT traded up $0.11 during trading on Tuesday, reaching $5.90. The stock had a trading volume of 3,390,517 shares, compared to its average volume of 6,320,358. The business has a fifty day moving average price of $5.52 and a 200-day moving average price of $6.54. 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 cap of $3.20 billion, a P/E ratio of -19.67 and a beta of 0.99. Alight, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last posted 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). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $548.00 million during the quarter, compared to analyst estimates of $542.66 million. During the same period in the prior year, the firm earned $0.13 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. As a group, analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued 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 dividend yield of 2.71%. Alight's payout ratio is -114.29%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALIT. 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. Wedbush cut 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, Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price target on shares of Alight in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.