EVR Research LP Purchases 530,239 Shares of Alight, Inc. $ALIT

Key Points

• EVR Research LP increased its stake in Alight, Inc. by 23.3% in Q1, now owning 2,810,239 shares valued at approximately $16.67 million.
• Alight will pay a quarterly dividend of $0.04 per share on September 15, representing a 4.2% dividend yield.
• Recent earnings reports show Alight's revenue down by 1.9% year-over-year with a quarterly EPS of $0.10, meeting analyst expectations.

EVR Research LP lifted its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 23.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,810,239 shares of the company's stock after acquiring an additional 530,239 shares during the quarter. Alight accounts for approximately 4.7% of EVR Research LP's portfolio, making the stock its 3rd largest holding. EVR Research LP owned about 0.52% of Alight worth $16,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ALIT. CWM LLC increased its stake in shares of Alight by 364.8% during the first quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after acquiring an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Alight by 82.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after acquiring an additional 2,348 shares during the period. GAMMA Investing LLC increased its stake 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 acquiring an additional 7,653 shares during the period. Public Employees Retirement System of Ohio grew its position in 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 during the period. Finally, FNY Investment Advisers LLC purchased a new position in Alight in the first quarter valued at about $52,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Price Performance

Shares of ALIT traded down $0.02 during mid-day trading on Friday, reaching $3.88. 5,678,887 shares of the company's stock were exchanged, compared to its average volume of 10,075,642. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. The company has a 50-day simple moving average of $4.97 and a two-hundred day simple moving average of $5.45. Alight, Inc. has a 52-week low of $3.62 and a 52-week high of $8.93. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -1.75 and a beta of 1.00.

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

Alight Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is -7.24%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wedbush dropped their target price on shares of Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. UBS Group dropped their target price on shares of Alight from $10.00 to $6.50 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Needham & Company LLC dropped their target price on shares of Alight from $8.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $8.75.

Alight 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.