Alight, Inc. $ALIT Stock Position Raised 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 filing with the Securities and Exchange Commission. The fund owned 984,062 shares of the company's stock after purchasing an additional 207,049 shares during the quarter. Ancora Advisors LLC owned 0.18% of Alight worth $5,835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC grew its stake in shares of Alight by 364.8% in the 1st quarter. CWM LLC now owns 5,104 shares of the company's stock valued at $30,000 after purchasing an additional 4,006 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Alight by 82.8% in the 1st 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. GAMMA Investing LLC grew its stake in shares of Alight by 5,505.8% in the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock valued at $46,000 after purchasing an additional 7,653 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of 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 buying an additional 2,059 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Alight in the first quarter valued at approximately $52,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. 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. 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. Finally, Needham & Company LLC decreased 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. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $8.75.

Alight Trading Down 0.9%

NYSE:ALIT traded down $0.04 on Monday, hitting $3.75. 6,209,653 shares of the stock were exchanged, compared to its average volume of 8,075,973. Alight, Inc. has a fifty-two week low of $3.62 and a fifty-two week high of $8.93. The stock has a fifty day moving average of $4.80 and a 200-day moving average of $5.34. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.02 billion, a PE ratio of -1.69 and a beta of 1.02.

Alight (NYSE:ALIT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company's revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, equities analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. Alight's dividend payout ratio is presently -7.24%.

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.