Philosophy Capital Management LLC Has $25.90 Million Stock Holdings 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 grew its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent 13F filing 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 period. Alight makes up 1.8% of Philosophy Capital Management LLC's investment portfolio, making the stock its 11th largest position. Philosophy Capital Management LLC owned 0.80% of Alight worth $25,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 buying an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Alight by 82.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after purchasing an additional 2,348 shares during the period. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 7,653 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Alight by 40.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock worth $49,000 after purchasing an additional 2,059 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Alight in the 1st quarter valued at about $52,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ALIT. UBS Group lowered their price target on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Wedbush decreased their price target on shares of Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Needham & Company LLC decreased their target price on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Six equities 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 $8.75.

Alight Stock Down 1.3%

Shares of ALIT stock traded down $0.05 during trading on Tuesday, hitting $3.70. 5,156,489 shares of the company were exchanged, compared to its average volume of 7,851,575. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. Alight, Inc. has a twelve month low of $3.62 and a twelve month high of $8.93. The business's 50-day simple moving average is $4.72 and its 200 day simple moving average is $5.30. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -1.67 and a beta of 1.01.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company had revenue of $528.00 million for the quarter, compared to analyst estimates of $525.26 million. During the same period last year, the company earned $0.05 earnings per share. The business's 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. As a group, analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The business 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 dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is -7.24%.

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.