Alight, Inc. (NYSE:ALIT) Stake Lifted by Rovida Advisors Inc.

Key Points

• Rovida Advisors Inc. increased its stake in Alight, Inc. by 10.8% in Q1, making Alight the fourth largest position in their portfolio.
• Analysts have revised Alight’s price targets downward, with Needham & Company lowering it from $8.00 to $6.00 and UBS Group from $10.00 to $6.50, maintaining a "buy" rating.
• Alight recently declared a quarterly dividend of $0.04 per share, reflecting a 4.2% yield, with an upcoming payment date on September 15th.

Rovida Advisors Inc. grew its position in Alight, Inc. (NYSE:ALIT - Free Report) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,992,379 shares of the company's stock after acquiring an additional 292,379 shares during the period. Alight comprises about 13.3% of Rovida Advisors Inc.'s portfolio, making the stock its 4th largest holding. Rovida Advisors Inc. owned 0.55% of Alight worth $17,745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC raised its position 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 buying an additional 4,006 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Alight by 40.8% during the 4th 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. GAMMA Investing LLC grew its holdings in shares of Alight by 5,505.8% during 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. FNY Investment Advisers LLC bought a new stake in shares of Alight during the 1st quarter valued at approximately $52,000. Finally, Sandia Investment Management LP bought a new stake in shares of Alight during the 4th quarter valued at approximately $69,000. Institutional investors own 96.74% of the company's stock.

Insiders Place Their Bets

In other news, Director David D. Guilmette acquired 50,000 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 600,750 shares of the company's stock, valued at approximately $3,418,267.50. The trade was a 9.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 55,216 shares of company stock valued at $307,636 in the last quarter. Insiders own 1.93% of the company's stock.

Alight Stock Up 2.5%

NYSE:ALIT traded up $0.10 on Wednesday, reaching $3.93. 493,903 shares of the stock traded hands, compared to its average volume of 7,990,130. The company's fifty day simple moving average is $5.36 and its 200 day simple moving average is $5.71. Alight, Inc. has a 12 month low of $3.80 and a 12 month high of $8.93. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -1.78 and a beta of 1.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The firm's revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. Equities analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, September 2nd. Alight's payout ratio is currently -7.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wedbush reduced their target price on shares of Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. UBS Group dropped their target price on shares of Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Needham & Company LLC dropped their target price on shares of Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.94.

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.