Philosophy Capital Management LLC Raises Position in Alight, Inc. $ALIT

Key Points

• Philosophy Capital Management LLC increased its stake in Alight, Inc. by 12.8% during the first quarter, acquiring an additional 495,935 shares, bringing its total holdings to approximately 4.37 million shares.
• Several analysts have recently lowered price targets for Alight, with Wedbush setting a new target of $7.00, while Needham and UBS adjusted theirs to $6.00 and $6.50, respectively.
• Alight announced a quarterly dividend of $0.04 per share, representing a 4.2% yield, to be paid on September 15th, with a record date of September 2nd.

Philosophy Capital Management LLC increased its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,368,108 shares of the company's stock after purchasing an additional 495,935 shares during the quarter. Alight makes up 1.8% of Philosophy Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Philosophy Capital Management LLC owned approximately 0.80% of Alight worth $25,903,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. CWM LLC boosted its position in Alight by 364.8% during the first quarter. CWM LLC now owns 5,104 shares of the company's stock valued at $30,000 after acquiring an additional 4,006 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Alight by 82.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock valued at $31,000 after acquiring an additional 2,348 shares during the last quarter. Public Employees Retirement System of Ohio boosted 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 valued at $49,000 after acquiring an additional 2,059 shares during the last quarter. GAMMA Investing LLC boosted its position in Alight by 5,505.8% during the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock valued at $46,000 after acquiring an additional 7,653 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Alight during the first quarter valued at $52,000. Institutional investors own 96.74% of the company's stock.

Analysts Set New Price Targets

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

Alight Stock Performance

ALIT traded up $0.14 on Thursday, hitting $3.72. The company's stock had a trading volume of 2,792,411 shares, compared to its average volume of 8,022,399. The company's 50 day simple moving average is $4.67 and its 200-day simple moving average is $5.29. The firm has a market cap of $2.00 billion, a P/E ratio of -1.68 and a beta of 1.01. Alight, Inc. has a 12 month low of $3.55 and a 12 month high of $8.93. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64.

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

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is presently -7.24%.

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.