Edgestream Partners L.P. Boosts Holdings in Alight, Inc. (NYSE:ALIT)

Edgestream Partners L.P. boosted its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 34.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 474,945 shares of the company's stock after purchasing an additional 122,841 shares during the quarter. Edgestream Partners L.P. owned about 0.09% of Alight worth $2,816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Northern Trust Corp grew its stake in shares of Alight by 5.7% in the 4th quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock valued at $28,426,000 after purchasing an additional 222,725 shares during the period. Starboard Value LP raised its holdings in shares of Alight by 8.8% in the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock valued at $326,818,000 after buying an additional 3,833,000 shares during the last quarter. EVR Research LP grew its stake in shares of Alight by 16.9% during the fourth quarter. EVR Research LP now owns 2,280,000 shares of the company's stock valued at $15,778,000 after purchasing an additional 330,000 shares during the last quarter. Sculptor Capital LP acquired a new stake in shares of Alight in the 4th quarter valued at $1,730,000. Finally, Kirr Marbach & Co. LLC IN raised its holdings in Alight by 11.1% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 765,311 shares of the company's stock worth $4,538,000 after purchasing an additional 76,385 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Transactions at Alight

In other news, Director David D. Guilmette purchased 50,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average cost of $5.69 per share, with a total value of $284,500.00. Following the completion of the acquisition, the director owned 600,750 shares in the company, valued at $3,418,267.50. This represents a 9.08% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.93% of the stock is owned by insiders.

Alight Stock Down 2.0%

Shares of Alight stock traded down $0.11 during trading hours on Friday, reaching $5.48. The company's stock had a trading volume of 8,668,710 shares, compared to its average volume of 6,646,171. The company has a market capitalization of $2.95 billion, a P/E ratio of -39.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. Alight, Inc. has a one year low of $4.49 and a one year high of $8.93. The stock's fifty day simple moving average is $5.57 and its two-hundred day simple moving average is $5.93.

Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The business had revenue of $548.00 million during the quarter, compared to analysts' expectations of $542.66 million. Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. Alight's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.04 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.92%. Alight's dividend payout ratio is -114.29%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALIT shares. Needham & Company LLC reissued a "buy" rating and issued a $8.00 target price on shares of Alight in a research note on Friday, June 20th. Wedbush decreased their price target on Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, DA Davidson reaffirmed a "buy" rating and set a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $9.86.

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.