Stanley Capital Management LLC Increases Stock Holdings in Alight, Inc. $ALIT

Key Points

• Stanley Capital Management LLC raised its stake in Alight, Inc. by 47.6% during the first quarter, acquiring an additional 1,000,000 shares, bringing its total to approximately 3.1 million shares.
• Alight announced a quarterly dividend of $0.04 per share, payable on September 15th, which represents a 4.2% dividend yield on an annualized basis.
• Analysts have lowered their price targets for Alight, with Wedbush setting a new target of $7.00, down from $9.00, while maintaining an "outperform" rating.

Stanley Capital Management LLC lifted its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 47.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,100,835 shares of the company's stock after acquiring an additional 1,000,000 shares during the quarter. Alight makes up 3.6% of Stanley Capital Management LLC's portfolio, making the stock its 11th biggest position. Stanley Capital Management LLC owned 0.58% of Alight worth $18,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALIT. Starboard Value LP raised its holdings in shares of Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock valued at $326,818,000 after acquiring an additional 3,833,000 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Alight by 50.4% during the first quarter. American Century Companies Inc. now owns 6,920,646 shares of the company's stock valued at $41,039,000 after acquiring an additional 2,319,685 shares in the last quarter. Nuveen LLC bought a new position in shares of Alight during the first quarter valued at approximately $11,707,000. Dimensional Fund Advisors LP raised its holdings in shares of Alight by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company's stock valued at $146,173,000 after acquiring an additional 1,930,440 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Alight by 890.2% during the fourth quarter. Millennium Management LLC now owns 1,743,320 shares of the company's stock valued at $12,064,000 after acquiring an additional 1,567,267 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. 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 report on Wednesday, August 6th. Wedbush reduced their price target on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Finally, UBS Group reduced their price target on Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $8.75.

Alight Stock Performance

Shares of Alight stock traded up $0.08 during trading on Wednesday, hitting $3.52. 2,922,936 shares of the company's stock traded hands, compared to its average volume of 7,970,159. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16. Alight, Inc. has a 1 year low of $3.42 and a 1 year high of $8.93. The stock has a market capitalization of $1.90 billion, a P/E ratio of -1.59 and a beta of 1.01. The business has a 50-day simple moving average of $4.49 and a 200-day simple moving average of $5.19.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS 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 analysts' expectations of $525.26 million. During the same period last year, the firm posted $0.05 earnings per share. Alight'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 year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.16 annualized dividend and a dividend yield of 4.6%. Alight's dividend payout ratio (DPR) is -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.