Starboard Value LP Has $326.82 Million Stake in Alight, Inc. (NYSE:ALIT)

Starboard Value LP raised its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,228,000 shares of the company's stock after acquiring an additional 3,833,000 shares during the quarter. Alight comprises approximately 5.9% of Starboard Value LP's investment portfolio, making the stock its 7th biggest holding. Starboard Value LP owned approximately 8.70% of Alight worth $326,818,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after purchasing an additional 1,729 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Alight in the 4th quarter valued at $50,000. Sandia Investment Management LP bought a new stake in shares of Alight during the fourth quarter worth $69,000. Headlands Technologies LLC bought a new stake in shares of Alight during the fourth quarter worth $84,000. Finally, Sterling Capital Management LLC lifted its stake in shares of Alight by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 13,224 shares of the company's stock valued at $92,000 after acquiring an additional 11,783 shares during the period. 96.74% of the stock is owned by institutional investors.

Alight Stock Down 2.3%

ALIT traded down $0.13 during trading on Friday, reaching $5.40. The company had a trading volume of 3,475,142 shares, compared to its average volume of 6,328,845. The company has a market cap of $2.93 billion, a P/E ratio of -17.98 and a beta of 0.99. Alight, Inc. has a 12 month low of $4.49 and a 12 month high of $8.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The business's fifty day moving average price is $5.45 and its 200 day moving average price is $6.48.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The company'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 earnings per share. Equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 annualized dividend and a dividend yield of 2.97%. Alight's dividend payout ratio is currently -114.29%.

Analyst Ratings Changes

ALIT has been the subject of a number of recent research reports. DA Davidson reissued a "buy" rating and set a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. Needham & Company LLC reiterated a "buy" rating and set a $9.00 target price on shares of Alight in a research report on Monday, March 24th. Finally, Wedbush cut 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 research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Alight has a consensus rating of "Moderate Buy" and a consensus price target of $9.94.

Insider Transactions at Alight

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the purchase, the director now owns 22,092 shares of the company's stock, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 175,092 shares of company stock valued at $1,092,255 over the last three months. Company insiders own 5.33% of the company's stock.

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.