Alight, Inc. (NYSE:ALIT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in Alight, Inc. (NYSE:ALIT - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,707,547 shares of the company's stock after acquiring an additional 551,755 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.87% of Alight worth $27,916,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALIT. GAMMA Investing LLC grew its position in shares of Alight by 5,505.8% during the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after buying an additional 7,653 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Alight by 40.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock worth $49,000 after buying an additional 2,059 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Alight during the first quarter worth approximately $52,000. Sandia Investment Management LP purchased a new stake in Alight during the fourth quarter worth approximately $69,000. Finally, Headlands Technologies LLC purchased a new stake in Alight during the fourth quarter worth approximately $84,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALIT shares. 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. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price objective on shares of Alight in a research note on Friday, June 20th. Finally, Wedbush reduced their price objective 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 investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.86.

Alight Price Performance

ALIT stock traded down $0.11 on Friday, reaching $5.48. 8,668,710 shares of the company's stock were exchanged, compared to its average volume of 6,646,171. The stock has a fifty day moving average of $5.57 and a 200-day moving average of $5.93. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $8.93. The firm has a market cap of $2.95 billion, a PE ratio of -39.14 and a beta of 1.00. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47.

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

Alight Announces Dividend

The business 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 of this dividend was Monday, June 2nd. This represents a $0.16 annualized dividend and a dividend yield of 2.92%. Alight's dividend payout ratio is currently -114.29%.

Insider Activity

In other Alight news, Director David D. Guilmette bought 50,000 shares of Alight stock in a transaction that occurred on Tuesday, May 20th. The shares were purchased at an average cost of $5.69 per share, for a total transaction of $284,500.00. Following the completion of the transaction, the director owned 600,750 shares of the company's stock, valued at $3,418,267.50. This represents a 9.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.93% of the stock is owned by corporate insiders.

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.