EVR Research LP Acquires 330,000 Shares of Alight, Inc. (NYSE:ALIT)

EVR Research LP grew its position in Alight, Inc. (NYSE:ALIT - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,280,000 shares of the company's stock after acquiring an additional 330,000 shares during the quarter. Alight accounts for 5.3% of EVR Research LP's portfolio, making the stock its 6th biggest holding. EVR Research LP owned approximately 0.42% of Alight worth $15,778,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after buying an additional 1,729 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock worth $37,000 after buying an additional 1,996 shares during the period. Venturi Wealth Management LLC purchased a new stake in Alight during the 4th quarter valued at approximately $50,000. Headlands Technologies LLC purchased a new position in shares of Alight in the 4th quarter valued at about $84,000. Finally, FMR LLC increased its holdings in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company's stock valued at $89,000 after buying an additional 3,689 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALIT. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 price target on shares of Alight in a report on Monday, March 24th. Wedbush reissued an "outperform" rating and issued a $11.00 target price on shares of Alight in a research note on Tuesday, March 25th. Finally, DA Davidson reaffirmed a "buy" rating and issued 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.19.

Insider Transactions at Alight

In related news, Director Richard N. Massey acquired 100,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the transaction, the director now owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of the business's stock in a transaction that occurred 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 acquisition, the director now directly owns 22,092 shares of the company's stock, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. 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. Corporate insiders own 5.33% of the company's stock.

Alight Stock Performance

Alight stock traded down $0.05 during midday trading on Thursday, hitting $4.99. The company's stock had a trading volume of 7,304,308 shares, compared to its average volume of 6,059,531. The company has a 50-day moving average price of $6.07 and a two-hundred day moving average price of $6.80. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -16.62 and a beta of 0.97. 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 1-year low of $4.49 and a 1-year high of $9.45.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). The business 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%. As a group, sell-side analysts predict that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.04 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 3.21%. Alight's payout ratio is presently -53.33%.

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.