Teacher Retirement System of Texas Invests $428,000 in Alight, Inc. (NYSE:ALIT)

Teacher Retirement System of Texas purchased a new stake in Alight, Inc. (NYSE:ALIT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 72,161 shares of the company's stock, valued at approximately $428,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALIT. Starboard Value LP boosted its holdings in Alight by 8.8% in the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock worth $326,818,000 after buying an additional 3,833,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Alight by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock worth $282,898,000 after buying an additional 292,911 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Alight by 13.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock worth $168,130,000 after buying an additional 2,901,108 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Alight by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock worth $157,215,000 after buying an additional 1,153,963 shares during the last quarter. Finally, Cooper Creek Partners Management LLC boosted its holdings in shares of Alight by 23.1% during the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock worth $122,514,000 after purchasing an additional 3,322,705 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Trading Down 0.6%

ALIT traded down $0.04 during trading hours on Monday, reaching $5.45. The company's stock had a trading volume of 4,215,731 shares, compared to its average volume of 6,636,449. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.18 and a quick ratio of 1.18. The business's 50-day moving average is $5.57 and its 200-day moving average is $5.92. Alight, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $8.93. The stock has a market cap of $2.93 billion, a PE ratio of -38.89 and a beta of 1.00.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Alight had a negative net margin of 2.65% and a positive return on equity of 5.74%. The firm had revenue of $548.00 million during the quarter, compared to analyst estimates of $542.66 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business's revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Monday, June 2nd. Alight's payout ratio is currently -114.29%.

Insider Activity

In other Alight news, Director David D. Guilmette purchased 50,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was bought at an average cost of $5.69 per share, with a total value of $284,500.00. Following the acquisition, the director directly owned 600,750 shares of the company's stock, valued at approximately $3,418,267.50. This represents a 9.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.93% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ALIT shares. DA Davidson restated a "buy" rating and set a $10.00 target price on shares of Alight in a report on Wednesday, March 26th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price objective on shares of Alight in a report on Friday, June 20th. Finally, Wedbush decreased their price objective on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Alight currently has an average rating of "Moderate Buy" and a consensus target price of $9.86.

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.