Wealth Enhancement Advisory Services LLC Buys New Position in Alight, Inc. $ALIT

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new position in Alight, Inc., purchasing 108,035 shares valued at approximately $646,000.
• Alight reported a quarterly EPS of $0.10, matching analysts’ consensus estimates, while its revenue was slightly down compared to the previous year.
• The company also announced a quarterly dividend of $0.04 per share, equivalent to an annualized basis of $0.16 and a dividend yield of 4.9%.

Wealth Enhancement Advisory Services LLC acquired a new position in Alight, Inc. (NYSE:ALIT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 108,035 shares of the company's stock, valued at approximately $646,000.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Alight by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company's stock worth $251,606,000 after acquiring an additional 1,548,078 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Alight by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company's stock worth $146,173,000 after acquiring an additional 1,930,440 shares during the period. American Century Companies Inc. lifted its position in shares of Alight by 50.4% in the 1st quarter. American Century Companies Inc. now owns 6,920,646 shares of the company's stock worth $41,039,000 after acquiring an additional 2,319,685 shares during the period. Kinney Asset Management LLC lifted its position in shares of Alight by 5.8% in the 1st quarter. Kinney Asset Management LLC now owns 6,877,546 shares of the company's stock worth $40,784,000 after acquiring an additional 380,000 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in shares of Alight by 22.3% in the 1st quarter. Neuberger Berman Group LLC now owns 5,985,157 shares of the company's stock worth $35,509,000 after acquiring an additional 1,092,567 shares during the period. Institutional investors own 96.74% of the company's stock.

Alight Stock Up 1.7%

NYSE ALIT opened at $3.27 on Friday. 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, Inc. has a 52 week low of $3.05 and a 52 week high of $8.93. The stock has a fifty day moving average of $3.86 and a 200-day moving average of $4.93. The stock has a market capitalization of $1.76 billion, a P/E ratio of -1.48 and a beta of 1.02.

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

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.9%. Alight's payout ratio is -7.24%.

Analyst Upgrades and Downgrades

ALIT has been the subject of a number of recent research reports. Needham & Company LLC dropped their target price on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Wedbush dropped their target price on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Alight in a report on Saturday, September 27th. Finally, UBS Group dropped their target price on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Alight has a consensus rating of "Moderate Buy" and a consensus price target of $8.75.

Alight Company 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.

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