Alight, Inc. (NYSE:ALIT) is Tensile Capital Management LP's 9th Largest Position

Tensile Capital Management LP lowered its position in Alight, Inc. (NYSE:ALIT - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,573,322 shares of the company's stock after selling 1,455,344 shares during the period. Alight makes up approximately 4.7% of Tensile Capital Management LP's investment portfolio, making the stock its 9th largest holding. Tensile Capital Management LP owned 1.21% of Alight worth $45,487,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, Director David D. Guilmette acquired 50,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average price of $5.69 per share, with a total value of $284,500.00. Following the completion of the acquisition, the director now owns 600,750 shares of the company's stock, valued at $3,418,267.50. This trade represents a 9.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert A. Schriesheim acquired 22,092 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now owns 22,092 shares of the company's stock, valued at $150,004.68. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 175,092 shares of company stock valued at $1,092,255 in the last ninety days. 5.33% of the stock is currently owned by corporate insiders.

Alight Price Performance

Shares of NYSE:ALIT traded down $0.12 during trading on Friday, reaching $5.41. The stock had a trading volume of 4,005,985 shares, compared to its average volume of 6,330,331. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a 1-year low of $4.49 and a 1-year high of $8.93. The stock has a market cap of $2.94 billion, a PE ratio of -18.02 and a beta of 0.99. The business has a fifty day moving average price of $5.45 and a 200-day moving average price of $6.48.

Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business 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 for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. On average, equities analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.04 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.96%. Alight's payout ratio is -114.29%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price objective on shares of Alight in a report on Monday, March 24th. DA Davidson reissued a "buy" rating and issued a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Finally, Wedbush reduced their price objective on shares of Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $9.94.

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.