Wexford Capital LP Cuts Position in Alight, Inc. (NYSE:ALIT)

Wexford Capital LP reduced its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 54.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,000 shares of the company's stock after selling 60,000 shares during the quarter. Wexford Capital LP's holdings in Alight were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALIT. Barclays PLC increased its holdings in Alight by 148.2% in the 3rd quarter. Barclays PLC now owns 815,841 shares of the company's stock worth $6,037,000 after acquiring an additional 487,185 shares in the last quarter. Blue Trust Inc. increased its holdings in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after acquiring an additional 1,729 shares in the last quarter. KBC Group NV increased its holdings in Alight by 89.2% in the 4th quarter. KBC Group NV now owns 22,802 shares of the company's stock worth $158,000 after acquiring an additional 10,753 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Alight in the 4th quarter worth $893,000. Finally, Samson Rock Capital LLP increased its holdings in Alight by 110.0% in the 4th quarter. Samson Rock Capital LLP now owns 504,000 shares of the company's stock worth $3,488,000 after acquiring an additional 264,000 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Trading Down 2.4%

Shares of ALIT stock traded down $0.14 on Friday, hitting $5.39. 7,726,738 shares of the stock traded hands, compared to its average volume of 6,332,848. The firm's 50-day moving average price is $5.43 and its two-hundred day moving average price is $6.46. 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 stock has a market capitalization of $2.90 billion, a PE ratio of -17.95 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 announced its quarterly earnings results on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The company's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. As a group, analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.97%. Alight's payout ratio is currently -114.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALIT shares. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price target 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 cut their price target on shares of Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a 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 stock. Based on data from MarketBeat.com, Alight has an average rating of "Moderate Buy" and an average price target of $9.94.

Insider Buying and Selling at Alight

In related news, Director Richard N. Massey bought 100,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of the business's stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the purchase, the director now directly owns 22,092 shares of the company's stock, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 175,092 shares of company stock valued at $1,092,255 over the last 90 days. 5.33% of the stock is owned by insiders.

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.