Alight, Inc. (NYSE:ALIT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 55.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,279 shares of the company's stock after selling 604,354 shares during the period. Bank of America Corp DE owned approximately 0.09% of Alight worth $3,413,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Northern Trust Corp raised its stake in shares of Alight by 5.7% during the fourth quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock worth $28,426,000 after acquiring an additional 222,725 shares in the last quarter. Barclays PLC grew its position in shares of Alight by 148.2% in the 3rd quarter. Barclays PLC now owns 815,841 shares of the company's stock worth $6,037,000 after buying an additional 487,185 shares during the last quarter. EVR Research LP increased its position in Alight by 16.9% during the 4th 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 period. Heck Capital Advisors LLC bought a new position in Alight in the fourth quarter worth about $893,000. Finally, US Bancorp DE lifted its stake in shares of Alight by 17.5% in the 4th quarter. US Bancorp DE now owns 23,980 shares of the company's stock valued at $166,000 after purchasing an additional 3,576 shares during the period. Institutional investors own 96.74% of the company's stock.

Alight Price Performance

NYSE:ALIT remained flat at $5.43 during trading hours on Wednesday. 4,343,111 shares of the company's stock traded hands, compared to its average volume of 6,357,162. The stock has a market capitalization of $2.92 billion, a P/E ratio of -18.10 and a beta of 1.00. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $5.33 and a 200 day moving average of $6.34. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The company's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. Equities analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's dividend payout ratio is currently -114.29%.

Insider Buying and Selling

In related news, Director David D. Guilmette purchased 50,000 shares of Alight stock in a transaction dated Tuesday, May 20th. The stock was purchased at an average cost of $5.69 per share, with a total value of $284,500.00. Following the transaction, the director now owns 600,750 shares in the company, valued at approximately $3,418,267.50. The trade was a 9.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 153,000 shares of company stock valued at $942,250 in the last ninety days. 5.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a "buy" rating and set a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. DA Davidson restated a "buy" rating and set a $10.00 target price on shares of Alight in a research note on Wednesday, March 26th. Finally, Wedbush dropped their price target on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.94.

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.