FPR Partners LLC Has $87.07 Million Position in Alight, Inc. $ALIT

Key Points

• FPR Partners LLC reduced its position in Alight, Inc. by 30.8%, now holding 14,683,290 shares, which comprises 15.0% of its portfolio and makes it the firm's second-largest holding.
• Several hedge funds increased their stakes in Alight during the first quarter, with CWM LLC raising its position by 364.8%, reflecting strong institutional interest in the stock.
• Research firms have adjusted their price targets for Alight, with a consensus buy rating, and an average target price set at $9.07, down from previous higher targets.

FPR Partners LLC decreased its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,683,290 shares of the company's stock after selling 6,525,000 shares during the quarter. Alight makes up about 15.0% of FPR Partners LLC's holdings, making the stock its 2nd largest position. FPR Partners LLC owned 2.70% of Alight worth $87,072,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ALIT. Wells Fargo & Company MN grew its holdings in shares of Alight by 7.3% during the fourth quarter. Wells Fargo & Company MN now owns 294,377 shares of the company's stock worth $2,037,000 after buying an additional 19,944 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Alight by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company's stock worth $309,000 after buying an additional 3,273 shares during the last quarter. Invesco Ltd. boosted its holdings in Alight by 2.0% in the 4th quarter. Invesco Ltd. now owns 351,375 shares of the company's stock valued at $2,432,000 after purchasing an additional 6,964 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Alight in the 4th quarter valued at approximately $3,783,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Alight in the 4th quarter valued at approximately $517,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC lowered their price objective on Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wedbush decreased their price target on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Finally, UBS Group decreased their price target on Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $9.07.

Alight Price Performance

Shares of NYSE ALIT traded up $0.08 during mid-day trading on Wednesday, reaching $3.92. 2,701,612 shares of the company traded hands, compared to its average volume of 8,010,706. Alight, Inc. has a fifty-two week low of $3.62 and a fifty-two week high of $8.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $2.11 billion, a PE ratio of -1.77 and a beta of 1.00. The stock has a fifty day simple moving average of $5.05 and a 200-day simple moving average of $5.50.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The business had revenue of $528.00 million for the quarter, compared to analyst estimates of $525.26 million. During the same quarter last year, the business earned $0.05 earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. Equities research analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is presently -7.24%.

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.