Moore Capital Management LP Purchases 484,122 Shares of Alight, Inc. (NYSE:ALIT)

Moore Capital Management LP increased its position in Alight, Inc. (NYSE:ALIT - Free Report) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,872,976 shares of the company's stock after buying an additional 484,122 shares during the quarter. Moore Capital Management LP owned 0.71% of Alight worth $26,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Alight by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock valued at $282,898,000 after buying an additional 292,911 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in Alight by 13.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock valued at $168,130,000 after acquiring an additional 2,901,108 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Alight by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock valued at $157,215,000 after acquiring an additional 1,153,963 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in Alight by 23.1% in the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock valued at $122,514,000 after acquiring an additional 3,322,705 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Alight by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 17,624,572 shares of the company's stock valued at $121,961,000 after acquiring an additional 229,466 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Wall Street Analyst Weigh In

ALIT has been the topic of several analyst reports. DA Davidson reiterated a "buy" rating and issued a $10.00 target price on shares of Alight in a report on Wednesday, March 26th. Wedbush reduced their target price on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $9.00 target price on shares of Alight in a report on Monday, March 24th. One 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $9.94.

Insider Activity at Alight

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the company's stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the purchase, the director now owns 22,092 shares in the company, valued at approximately $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 the SEC website. Also, Director Richard N. Massey acquired 100,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the purchase, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 125,092 shares of company stock valued at $807,755. 5.33% of the stock is owned by company insiders.

Alight Trading Up 0.4%

Shares of Alight stock traded up $0.03 on Friday, reaching $5.78. 7,026,055 shares of the company's stock were exchanged, compared to its average volume of 6,303,626. The company has a market capitalization of $3.14 billion, a P/E ratio of -19.25 and a beta of 0.99. Alight, Inc. has a 52 week low of $4.49 and a 52 week high of $8.93. The firm's 50-day moving average is $5.49 and its two-hundred day moving average is $6.51. 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 posted its quarterly earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. Alight's quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's payout ratio is currently -114.29%.

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.