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

Edgestream Partners L.P. grew its position in Alight, Inc. (NYSE:ALIT - Free Report) by 34.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,945 shares of the company's stock after purchasing an additional 122,841 shares during the period. Edgestream Partners L.P. owned approximately 0.09% of Alight worth $2,816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Alight during the fourth quarter valued at $35,045,000. Starboard Value LP grew its holdings in Alight by 8.8% in the 4th 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. Cooper Creek Partners Management LLC grew its holdings in Alight by 23.1% in the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock valued at $122,514,000 after buying an additional 3,322,705 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Alight by 214.0% during the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company's stock worth $31,839,000 after buying an additional 3,135,846 shares during the period. Finally, J. Goldman & Co LP lifted its position in shares of Alight by 105.3% during the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock worth $39,960,000 after buying an additional 2,961,443 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Alight Stock Performance

Alight stock traded down $0.11 during midday trading on Friday, hitting $5.48. 8,668,710 shares of the company's stock were exchanged, compared to its average volume of 6,647,449. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $8.93. The stock has a market cap of $2.95 billion, a price-to-earnings 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. The firm's 50 day simple moving average is $5.57 and its 200 day simple moving average is $5.93.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly 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). Alight had a negative net margin of 2.65% and a positive return on equity of 5.74%. The business had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same period last year, the firm earned $0.13 earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 dividend yield of 2.92%. Alight's dividend payout ratio (DPR) is presently -114.29%.

Insider Buying and Selling at Alight

In other Alight news, Director David D. Guilmette purchased 50,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were acquired at an average price of $5.69 per share, for a total transaction of $284,500.00. Following the purchase, the director owned 600,750 shares in the company, valued at approximately $3,418,267.50. The trade was a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.93% of the company's stock.

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.