Allspring Global Investments Holdings LLC increased its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 70.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,734,557 shares of the company's stock after buying an additional 1,126,650 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.50% of Alight worth $15,915,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALIT. Norges Bank acquired a new stake in shares of Alight in the 4th quarter valued at about $35,045,000. Starboard Value LP grew its holdings in shares of Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock worth $326,818,000 after buying an additional 3,833,000 shares in the last quarter. Cooper Creek Partners Management LLC raised its position 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 stake in Alight by 214.0% in the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company's stock valued at $31,839,000 after acquiring an additional 3,135,846 shares in the last quarter. Finally, J. Goldman & Co LP lifted its stake in Alight by 105.3% in the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock valued at $39,960,000 after acquiring an additional 2,961,443 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.
Insider Activity 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. Corporate insiders own 1.93% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on ALIT shares. DA Davidson reaffirmed a "buy" rating and set a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 target price on shares of Alight in a research report on Friday, June 20th. Finally, Wedbush cut their price target on shares of Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.86.
Check Out Our Latest Stock Report on Alight
Alight Stock Up 0.9%
ALIT traded up $0.06 during trading on Friday, reaching $5.98. 4,973,095 shares of the stock were exchanged, compared to its average volume of 6,591,286. 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 stock's 50 day moving average price is $5.47 and its two-hundred day moving average price is $6.02. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $8.93. The stock has a market cap of $3.22 billion, a P/E ratio of -42.68 and a beta of 1.00.
Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. The firm had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts expect that Alight, Inc. will post 0.54 EPS for the current year.
Alight Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given 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 2.68%. Alight's payout ratio is -114.29%.
About Alight
(
Free Report)
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.
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