Stanley Capital Management LLC Purchases 1,000,000 Shares of 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 increased its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 47.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,100,835 shares of the company's stock after acquiring an additional 1,000,000 shares during the period. Alight comprises about 3.6% of Stanley Capital Management LLC's holdings, making the stock its 11th largest holding. Stanley Capital Management LLC owned approximately 0.58% of Alight worth $18,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Starboard Value LP lifted its stake in shares of Alight by 8.8% in the 4th 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 during the last quarter. Vanguard Group Inc. lifted its stake in shares of Alight by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company's stock valued at $251,606,000 after acquiring an additional 1,548,078 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Alight by 8.5% in the 1st 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 during the last quarter. American Century Companies Inc. lifted its stake in shares of Alight by 50.4% in the 1st 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 during the last quarter. Finally, Kinney Asset Management LLC lifted its stake in shares of Alight by 5.8% in the 1st quarter. Kinney Asset Management LLC now owns 6,877,546 shares of the company's stock valued at $40,784,000 after acquiring an additional 380,000 shares during the last quarter. Institutional investors own 96.74% of the company's stock.

Alight Trading Up 5.6%

ALIT opened at $3.78 on Friday. The business has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $5.27. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -1.71 and a beta of 1.01. 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 one year low of $3.55 and a one year high of $8.93.

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

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.2%. Alight's dividend payout ratio is -7.24%.

Analyst Ratings Changes

ALIT has been the subject of a number of recent research reports. Wedbush lowered their target price on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. UBS Group lowered their target price on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, Needham & Company LLC lowered their price target 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, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $8.75.

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.

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