Tejara Capital Ltd Makes New Investment in Alight, Inc. $ALIT

Key Points

• Tejara Capital Ltd acquired 85,100 new shares in Alight, Inc., investing around $505,000, highlighting increased institutional interest in the company.
• Analysts have updated their price targets for Alight, with Wedbush lowering its target from $9.00 to $7.00 while maintaining an "outperform" rating.
• Alight announced a quarterly dividend of $0.04 per share, reflecting an annual yield of 4.4%, with the dividend to be paid on September 15th.

Tejara Capital Ltd acquired a new position in Alight, Inc. (NYSE:ALIT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 85,100 shares of the company's stock, valued at approximately $505,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its holdings in shares of Alight by 5.7% in the 4th quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock worth $28,426,000 after purchasing an additional 222,725 shares during the last quarter. Starboard Value LP grew its position in 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 buying an additional 3,833,000 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Alight in the 1st quarter valued at about $428,000. Sculptor Capital LP bought a new position in Alight in the 4th quarter valued at about $1,730,000. Finally, Kirr Marbach & Co. LLC IN grew its position in Alight by 11.1% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 765,311 shares of the company's stock valued at $4,538,000 after buying an additional 76,385 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALIT. UBS Group decreased their target price on shares of Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Needham & Company LLC cut their price objective on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Wedbush cut their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $9.07.

Alight Price Performance

Shares of NYSE ALIT traded down $0.0350 during trading on Wednesday, hitting $3.8150. The company had a trading volume of 6,202,314 shares, compared to its average volume of 9,270,881. The company has a market cap of $2.06 billion, a P/E ratio of -1.73 and a beta of 1.00. Alight, Inc. has a 52 week low of $3.62 and a 52 week high of $8.93. The business's 50-day moving average is $5.17 and its 200 day moving average is $5.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $528.00 million for the quarter, compared to analysts' expectations of $525.26 million. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The firm's revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. Equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is -7.24%.

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.