GABELLI & Co INVESTMENT ADVISERS INC. Raises Stake in Alight, Inc. $ALIT

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Alight, Inc. by 58.0%, owning 184,550 shares valued at $1,094,000 after acquiring 67,750 shares in the 1st quarter.
• Alight recently declared a $0.04 quarterly dividend with a yield of 4.2%, to be paid on September 15th.
• The company reported earnings of $0.10 EPS for the last quarter, meeting analysts' expectations, while revenue was down 1.9% year-over-year.

GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 58.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 184,550 shares of the company's stock after buying an additional 67,750 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in Alight were worth $1,094,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in shares of Alight by 7.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company's stock valued at $309,000 after acquiring an additional 3,273 shares during the period. Invesco Ltd. boosted its holdings in shares of Alight by 2.0% in the 4th quarter. Invesco Ltd. now owns 351,375 shares of the company's stock valued at $2,432,000 after buying an additional 6,964 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Alight by 52.7% in the 4th quarter. First Trust Advisors LP now owns 176,546 shares of the company's stock valued at $1,222,000 after buying an additional 60,909 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Alight by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 258,296 shares of the company's stock valued at $1,787,000 after buying an additional 16,505 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake 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 purchasing an additional 36,999 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

Alight Trading Down 1.6%

Alight stock opened at $3.81 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.05 billion, a PE ratio of -1.72 and a beta of 1.00. The stock has a 50-day moving average price of $5.08 and a 200 day moving average price of $5.52. Alight, Inc. has a 52 week low of $3.62 and a 52 week high of $8.93.

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

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.04 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.16 annualized dividend and a yield of 4.2%. Alight's payout ratio is -7.24%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ALIT shares. Needham & Company LLC reduced their price target on shares of Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. UBS Group lowered their price target on shares of Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Wedbush reduced their price objective on shares of Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Alight currently has a consensus rating of "Buy" and an average target price of $9.07.

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.

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