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

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

Several other large investors have also recently made changes to their positions in ALIT. Amalgamated Bank boosted its stake in Alight by 17.2% in the 1st quarter. Amalgamated Bank now owns 14,534 shares of the company's stock worth $86,000 after purchasing an additional 2,133 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Alight by 70.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,734,557 shares of the company's stock valued at $15,915,000 after buying an additional 1,126,650 shares during the period. Kirr Marbach & Co. LLC IN boosted its stake in shares of Alight by 11.1% during the first quarter. Kirr Marbach & Co. LLC IN now owns 765,311 shares of the company's stock valued at $4,538,000 after purchasing an additional 76,385 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Alight in the first quarter valued at about $201,000. Finally, FNY Investment Advisers LLC acquired a new stake in Alight in the first quarter worth about $52,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David D. Guilmette purchased 50,000 shares of Alight stock in a transaction dated Tuesday, May 20th. The shares were acquired at an average cost of $5.69 per share, for a total transaction of $284,500.00. Following the transaction, the director directly owned 600,750 shares of the company's stock, valued at approximately $3,418,267.50. This trade represents a 9.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.93% of the company's stock.

Alight Trading Down 2.0%

ALIT stock traded down $0.11 during mid-day trading on Friday, reaching $5.48. 8,668,710 shares of the stock traded hands, compared to its average volume of 6,646,171. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. Alight, Inc. has a one year low of $4.49 and a one year high of $8.93. The stock has a market capitalization of $2.95 billion, a PE ratio of -39.14 and a beta of 1.00. The business has a 50-day moving average price of $5.57 and a two-hundred day moving average price of $5.92.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to analysts' expectations of $542.66 million. Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. The firm's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. Equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.04 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.92%. Alight's dividend payout ratio (DPR) is currently -114.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALIT. Needham & Company LLC restated a "buy" rating and set a $8.00 target price on shares of Alight in a report on Friday, June 20th. Wedbush dropped their price target on Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, DA Davidson reiterated a "buy" rating and set a $10.00 price target on shares of Alight in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.86.

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.