Bank of New York Mellon Corp Raises Stake in Alight, Inc. (NYSE:ALIT)

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Alight by 5,505.8% in the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after purchasing an additional 7,653 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Alight by 40.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock worth $49,000 after purchasing an additional 2,059 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Alight in the 1st quarter worth about $52,000. Sandia Investment Management LP bought a new stake in Alight during the 4th quarter worth about $69,000. Finally, Headlands Technologies LLC bought a new stake in Alight during the 4th quarter worth about $84,000. Institutional investors own 96.74% of the company's stock.

Alight Stock Down 2.0%

ALIT traded down $0.11 during trading on Friday, reaching $5.48. 8,668,710 shares of the stock were exchanged, compared to its average volume of 6,647,449. The stock has a market cap of $2.95 billion, a P/E ratio of -39.14 and a beta of 1.00. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $8.93. The stock's 50 day moving average price is $5.57 and its two-hundred day moving average price is $5.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18.

Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The business had revenue of $548.00 million during the quarter, compared to the consensus estimate of $542.66 million. Alight had a negative net margin of 2.65% and a positive return on equity of 5.74%. The company's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. Equities analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.92%. The ex-dividend date was Monday, June 2nd. Alight's payout ratio is -114.29%.

Insider Buying and Selling

In other news, Director David D. Guilmette acquired 50,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was bought at an average price of $5.69 per share, with a total value of $284,500.00. Following the completion of the purchase, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ALIT shares. DA Davidson reissued a "buy" rating and set a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th. Wedbush decreased their price objective on shares of Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC reissued a "buy" rating and set a $8.00 price objective on shares of Alight in a report on Friday, June 20th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Alight presently has a consensus rating of "Moderate Buy" and an average target price of $9.86.

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.