Nuveen Asset Management LLC Buys 191,075 Shares of Alight, Inc. (NYSE:ALIT)

Nuveen Asset Management LLC grew its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,793,122 shares of the company's stock after purchasing an additional 191,075 shares during the quarter. Nuveen Asset Management LLC owned about 0.33% of Alight worth $12,408,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Occudo Quantitative Strategies LP acquired a new stake in Alight during the 4th quarter worth $501,000. Millennium Management LLC raised its stake in Alight by 890.2% during the 4th quarter. Millennium Management LLC now owns 1,743,320 shares of the company's stock worth $12,064,000 after buying an additional 1,567,267 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Alight by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,860 shares of the company's stock worth $1,653,000 after buying an additional 6,639 shares during the period. Moore Capital Management LP raised its stake in Alight by 14.3% during the 4th quarter. Moore Capital Management LP now owns 3,872,976 shares of the company's stock worth $26,801,000 after buying an additional 484,122 shares during the period. Finally, J. Goldman & Co LP raised its stake in Alight by 105.3% during the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock worth $39,960,000 after buying an additional 2,961,443 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Activity

In other Alight news, Director Richard N. Massey purchased 100,000 shares of Alight stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. This trade represents a 6.79% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares of the company's stock, valued at $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 175,092 shares of company stock worth $1,092,255 in the last quarter. Corporate insiders own 5.33% of the company's stock.

Alight Stock Up 2.1%

Shares of ALIT traded up $0.12 during midday trading on Thursday, hitting $5.55. The stock had a trading volume of 6,100,596 shares, compared to its average volume of 6,348,097. The company has a 50 day simple moving average of $5.40 and a two-hundred day simple moving average of $6.42. 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 $2.98 billion, a price-to-earnings ratio of -18.48 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 for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company 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 5.53% and a positive return on equity of 5.42%. Alight's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. On average, analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Monday, June 2nd. Alight's payout ratio is -114.29%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALIT. DA Davidson reaffirmed a "buy" rating and set a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Finally, Wedbush dropped their price target on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $9.94.

Alight Company 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.