Alight, Inc. (NYSE:ALIT) Shares Acquired by Millennium Management LLC

Millennium Management LLC boosted its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 890.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,743,320 shares of the company's stock after purchasing an additional 1,567,267 shares during the quarter. Millennium Management LLC owned approximately 0.32% of Alight worth $12,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ALIT. Blue Trust Inc. grew its position in Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after acquiring an additional 1,729 shares during the period. Cornerstone Investment Partners LLC grew its position in Alight by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company's stock valued at $468,000 after acquiring an additional 2,356 shares during the period. Xponance Inc. boosted its position in shares of Alight by 8.8% in the fourth quarter. Xponance Inc. now owns 30,229 shares of the company's stock worth $209,000 after buying an additional 2,437 shares during the period. Envestnet Asset Management Inc. boosted its position 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 worth $309,000 after buying an additional 3,273 shares during the period. Finally, US Bancorp DE boosted its position in shares of Alight by 17.5% in the fourth quarter. US Bancorp DE now owns 23,980 shares of the company's stock worth $166,000 after buying an additional 3,576 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Up 0.6%

ALIT traded up $0.04 on Thursday, reaching $5.47. The company's stock had a trading volume of 1,075,922 shares, compared to its average volume of 8,228,462. The business's 50 day moving average is $5.40 and its 200 day moving average is $6.42. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $8.93. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -18.22 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Alight (NYSE:ALIT - Get Free Report) last announced 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). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same quarter in the previous year, the company earned $0.13 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's payout ratio is currently -114.29%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Alight

In other news, Director Robert A. Schriesheim acquired 22,092 shares of the business's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the purchase, the director now directly owns 22,092 shares of the company's stock, valued at $150,004.68. This represents a ∞ increase in their position. The transaction 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 company's stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 175,092 shares of company stock worth $1,092,255 over the last quarter. 5.33% 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.