Hsbc Holdings PLC Has $1.74 Million Stake in Alight, Inc. $ALIT

Key Points

• Hsbc Holdings PLC increased its stake in Alight, Inc. by 353.0% during the 1st quarter, now owning 294,696 shares valued at approximately $1.74 million.
• Alight's recent quarterly earnings matched analysts' expectations with an EPS of $0.10, but the company's revenue decreased by 1.9% compared to the previous year.
• The company announced a quarterly dividend of $0.04 per share, with a dividend yield of 4.1%, scheduled for payment on September 15th.

Hsbc Holdings PLC lifted its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 353.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 294,696 shares of the company's stock after purchasing an additional 229,639 shares during the period. Hsbc Holdings PLC owned 0.05% of Alight worth $1,737,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after purchasing an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Alight by 82.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after buying an additional 2,348 shares in the last quarter. GAMMA Investing LLC increased its stake in Alight by 5,505.8% during the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock valued at $46,000 after acquiring an additional 7,653 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Alight by 40.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock valued at $49,000 after acquiring an additional 2,059 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Alight in the 1st quarter valued at approximately $52,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALIT. Wedbush decreased their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. UBS Group cut their target price on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, Needham & Company LLC cut their target price on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $8.75.

Alight Price Performance

Shares of NYSE ALIT traded down $0.02 during midday trading on Friday, reaching $3.88. 5,678,887 shares of the company traded hands, compared to its average volume of 10,093,626. Alight, Inc. has a 12 month low of $3.62 and a 12 month high of $8.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. The stock's 50-day simple moving average is $4.97 and its 200-day simple moving average is $5.45. The firm has a market cap of $2.09 billion, a PE ratio of 8.08 and a beta of 1.02.

Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $525.26 million. During the same quarter last year, the company posted $0.05 EPS. The firm'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. As a group, equities analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.04 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.1%. Alight's payout ratio is -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.