Wexford Capital LP Has $346,000 Holdings in Alight, Inc. (NYSE:ALIT)

Wexford Capital LP lessened its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 54.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the company's stock after selling 60,000 shares during the period. Wexford Capital LP's holdings in Alight were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. raised 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 during the period. Cornerstone Investment Partners LLC raised its holdings in Alight by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company's stock worth $468,000 after acquiring an additional 2,356 shares during the period. Xponance Inc. raised its holdings in Alight by 8.8% in the 4th quarter. Xponance Inc. now owns 30,229 shares of the company's stock worth $209,000 after acquiring an additional 2,437 shares during the period. Shay Capital LLC raised its holdings in Alight by 2.4% in the 4th quarter. Shay Capital LLC now owns 128,000 shares of the company's stock worth $886,000 after acquiring an additional 3,000 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Alight by 7.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company's stock worth $309,000 after acquiring an additional 3,273 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 Richard N. Massey acquired 100,000 shares of the firm'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 completion of the purchase, the director now owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. This represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert A. Schriesheim bought 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the transaction, the director now directly 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. Over the last ninety days, insiders have bought 125,092 shares of company stock valued at $807,755. 5.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ALIT shares. DA Davidson reaffirmed a "buy" rating and set a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price objective on shares of Alight in a research report on Monday, March 24th. Finally, Wedbush cut 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 research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $9.94.

Alight Stock Performance

NYSE ALIT opened at $5.70 on Tuesday. The stock has a market cap of $3.10 billion, a P/E ratio of -19.00 and a beta of 0.99. The company's 50-day simple moving average is $5.48 and its 200 day simple moving average is $6.50. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $8.93. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The business had revenue of $548.00 million during the quarter, compared to the consensus estimate of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. As a group, research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 2.81%. Alight's dividend payout ratio is -114.29%.

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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