Alight, Inc. $ALIT Shares Acquired by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC increased its stake in Alight, Inc. by 26.6%, acquiring an additional 207,049 shares in the first quarter, bringing its total ownership to approximately 984,062 shares valued at $5.8 million.
• Alight reported $0.10 earnings per share for the last quarter, meeting analysts' expectations, while its revenue was $528 million, slightly exceeding estimates.
• The company announced a quarterly dividend of $0.04 per share with a dividend yield of 4.1%, scheduled for payment on September 15th.

Ancora Advisors LLC raised its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 26.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 984,062 shares of the company's stock after purchasing an additional 207,049 shares during the period. Ancora Advisors LLC owned 0.18% of Alight worth $5,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock valued at $49,000 after purchasing an additional 2,059 shares during the last quarter. Amalgamated Bank grew its stake in Alight by 17.2% in the first quarter. Amalgamated Bank now owns 14,534 shares of the company's stock valued at $86,000 after purchasing an additional 2,133 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock valued at $31,000 after purchasing an additional 2,348 shares during the last quarter. Winslow Asset Management Inc. grew its stake in Alight by 18.6% in the first quarter. Winslow Asset Management Inc. now owns 15,905 shares of the company's stock valued at $94,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Shay Capital LLC grew its stake in Alight by 2.4% in the fourth quarter. Shay Capital LLC now owns 128,000 shares of the company's stock valued at $886,000 after purchasing an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ALIT. UBS Group cut their target price on Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC dropped their price target on Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Wedbush dropped 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. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $8.75.

Alight Stock Performance

Shares of Alight stock traded down $0.08 on Tuesday, reaching $3.68. 1,864,311 shares of the stock were exchanged, compared to its average volume of 8,038,038. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. Alight, Inc. has a twelve month low of $3.62 and a twelve month high of $8.93. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -1.66 and a beta of 1.02. The business has a 50 day moving average price of $4.76 and a two-hundred day moving average price of $5.31.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. During the same period in the previous year, the company posted $0.05 earnings per share. Alight'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. Analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 4.4%. Alight's payout ratio is presently -7.24%.

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.