Alight, Inc. (NYSE:ALIT) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 553,023 shares of the company's stock after selling 85,954 shares during the period. Lazard Asset Management LLC owned about 0.10% of Alight worth $3,826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALIT. Blue Trust Inc. increased its stake in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after purchasing an additional 1,729 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Alight during the fourth quarter valued at $50,000. Headlands Technologies LLC purchased a new position in shares of Alight during the fourth quarter valued at $84,000. Sterling Capital Management LLC increased its stake in shares of Alight by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 13,224 shares of the company's stock valued at $92,000 after buying an additional 11,783 shares during the period. Finally, Winslow Asset Management Inc. purchased a new position in shares of Alight during the fourth quarter valued at $93,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Stock Up 0.6%

ALIT stock traded up $0.04 during trading on Thursday, reaching $5.51. 1,984,134 shares of the company traded hands, compared to its average volume of 6,316,009. Alight, Inc. has a 12 month low of $4.49 and a 12 month high of $8.93. The business has a 50 day simple moving average of $5.47 and a 200 day simple moving average of $6.48. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -18.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

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

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's payout ratio is currently -114.29%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALIT. DA Davidson restated a "buy" rating and set a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. Wedbush cut their price target on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $9.00 price target on shares of Alight in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $9.94.

Insider Activity at Alight

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the stock in a transaction on 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 acquisition, the director now owns 22,092 shares in the company, valued at $150,004.68. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David D. Guilmette purchased 50,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was acquired at an average cost of $5.69 per share, with a total value of $284,500.00. Following the acquisition, the director now owns 600,750 shares of the company's stock, valued at approximately $3,418,267.50. This represents a 9.08% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 175,092 shares of company stock valued at $1,092,255 over the last quarter. 5.33% of the stock is owned by corporate insiders.

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.