UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $6.65 Million Stock Position in Alight, Inc. (NYSE:ALIT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 960,332 shares of the company's stock after acquiring an additional 193,117 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.18% of Alight worth $6,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALIT. Norges Bank acquired a new stake in Alight during the 4th quarter worth $35,045,000. Starboard Value LP raised its stake in shares of Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock worth $326,818,000 after purchasing an additional 3,833,000 shares during the last quarter. Cooper Creek Partners Management LLC lifted its holdings in shares of Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock worth $122,514,000 after purchasing an additional 3,322,705 shares during the period. American Century Companies Inc. grew its position in Alight by 214.0% in the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company's stock valued at $31,839,000 after buying an additional 3,135,846 shares during the last quarter. Finally, J. Goldman & Co LP grew its position in Alight by 105.3% in the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock valued at $39,960,000 after buying an additional 2,961,443 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Price Performance

Shares of ALIT traded up $0.12 during mid-day trading on Tuesday, reaching $5.44. The company had a trading volume of 4,021,200 shares, compared to its average volume of 6,352,739. The company's 50-day moving average is $5.35 and its 200-day moving average is $6.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $2.93 billion, a P/E ratio of -18.12 and a beta of 0.99. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data 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). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The firm had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same period in the prior year, the company posted $0.13 EPS. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Monday, June 2nd. Alight's dividend payout ratio (DPR) is presently -114.29%.

Insider Buying and Selling at Alight

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. This represents a 6.79% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David D. Guilmette acquired 50,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was bought at an average cost of $5.69 per share, for a total transaction of $284,500.00. Following the completion of the transaction, the director now directly owns 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 disclosure for this purchase can be found here. Insiders have bought 153,000 shares of company stock valued at $942,250 in the last 90 days. 5.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ALIT has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price objective on shares of Alight in a report on Monday, March 24th. Wedbush decreased their price objective on shares of Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, DA Davidson restated a "buy" rating and set a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.94.

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.