Alight, Inc. (NYSE:ALIT) Shares Sold by Tensile Capital Management LP

Tensile Capital Management LP lowered its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,573,322 shares of the company's stock after selling 1,455,344 shares during the period. Alight comprises about 4.7% of Tensile Capital Management LP's 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.

A number of other hedge funds have also added to or reduced their stakes in ALIT. Barclays PLC grew its position in Alight by 148.2% in the third quarter. Barclays PLC now owns 815,841 shares of the company's stock valued at $6,037,000 after purchasing an additional 487,185 shares in the last quarter. Blue Trust Inc. grew its position in Alight by 107.6% in the fourth 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 in the last quarter. KBC Group NV grew its position in Alight by 89.2% in the fourth quarter. KBC Group NV now owns 22,802 shares of the company's stock valued at $158,000 after purchasing an additional 10,753 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Alight in the fourth quarter valued at $893,000. Finally, Samson Rock Capital LLP grew its position in Alight by 110.0% in the fourth quarter. Samson Rock Capital LLP now owns 504,000 shares of the company's stock valued at $3,488,000 after purchasing an additional 264,000 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

Alight Stock Performance

Alight stock traded down $0.04 during midday trading on Tuesday, reaching $5.67. 11,315,052 shares of the company's stock were exchanged, compared to its average volume of 6,320,714. Alight, Inc. has a 52 week low of $4.49 and a 52 week high of $8.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -18.90 and a beta of 0.99. The stock's 50-day simple moving average is $5.48 and its 200 day simple moving average is $6.49.

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 analysts' consensus estimates of $0.12 by ($0.02). The business had revenue of $548.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. On average, analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's payout ratio is -114.29%.

Insider Buying and Selling

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert A. Schriesheim purchased 22,092 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was acquired 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. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 175,092 shares of company stock valued at $1,092,255. Company insiders own 5.33% of the company's stock.

Wall Street Analyst Weigh In

ALIT has been the subject of a number of analyst reports. Wedbush decreased their target price 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. DA Davidson reaffirmed a "buy" rating and issued a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 target price on shares of Alight in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently 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.