Tejara Capital Ltd Takes $505,000 Position 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 purchased a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 85,100 shares of the company's stock, valued at approximately $505,000.

Other large investors have also modified their holdings of the company. CWM LLC grew its stake in shares of Alight by 364.8% during the first quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after acquiring an additional 4,006 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Alight by 82.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after acquiring an additional 2,348 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alight by 5,505.8% during the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after acquiring an additional 7,653 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Alight by 40.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock worth $49,000 after acquiring an additional 2,059 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Alight during the first quarter worth about $52,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analyst Upgrades and Downgrades

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

Alight Stock Performance

Shares of NYSE ALIT traded down $0.0050 during midday trading on Wednesday, reaching $3.8450. 2,007,727 shares of the stock were exchanged, compared to its average volume of 8,044,089. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -1.74 and a beta of 1.00. Alight, Inc. has a twelve month low of $3.62 and a twelve month high of $8.93. The firm has a 50-day simple moving average of $5.20 and a two-hundred day simple moving average of $5.60. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. The business had revenue of $528.00 million for the quarter, compared to analysts' expectations of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The business's revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend 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 (DPR) is presently -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.