Alight, Inc. $ALIT Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. reduced its shareholding in Alight, Inc. by 18.7%, bringing its total to approximately 3.72 million shares valued at $22.05 million.
• Alight recently declared a quarterly dividend of $0.04 per share, resulting in an annualized yield of 4.2%, with the dividend set to be paid on September 15th.
• Equity analysts have revised their price targets for Alight, with some lowering estimates to around $6.00 to $6.50, while maintaining a general rating of "Buy" among the analysts.

Alyeska Investment Group L.P. reduced its position in Alight, Inc. (NYSE:ALIT - Free Report) by 18.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,718,612 shares of the company's stock after selling 857,483 shares during the period. Alyeska Investment Group L.P. owned approximately 0.68% of Alight worth $22,051,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALIT. First Trust Advisors LP raised its stake in shares of Alight by 52.7% during the 4th quarter. First Trust Advisors LP now owns 176,546 shares of the company's stock worth $1,222,000 after purchasing an additional 60,909 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Alight by 14.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 294,454 shares of the company's stock worth $2,038,000 after buying an additional 36,999 shares during the last quarter. Northern Trust Corp lifted its position in Alight by 5.7% in the 4th quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock worth $28,426,000 after buying an additional 222,725 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Alight by 18.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock valued at $87,686,000 after purchasing an additional 2,015,579 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Alight in the fourth quarter valued at approximately $8,829,000. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Down 2.3%

NYSE ALIT traded down $0.09 on Wednesday, reaching $3.63. 1,741,077 shares of the stock traded hands, compared to its average volume of 8,020,666. Alight, Inc. has a 12 month low of $3.61 and a 12 month high of $8.93. The company has a fifty day moving average price of $4.72 and a 200-day moving average price of $5.30. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -1.64 and a beta of 1.01. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $525.26 million. During the same period last year, the business posted $0.05 EPS. The business's revenue was down 1.9% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, September 2nd. Alight's payout ratio is -7.24%.

Analyst Upgrades and Downgrades

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

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.