Occudo Quantitative Strategies LP Buys Shares of 72,351 Alight, Inc. (NYSE:ALIT)

Occudo Quantitative Strategies LP acquired a new stake in Alight, Inc. (NYSE:ALIT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 72,351 shares of the company's stock, valued at approximately $501,000.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC boosted its holdings in Alight by 890.2% during the fourth quarter. Millennium Management LLC now owns 1,743,320 shares of the company's stock worth $12,064,000 after buying an additional 1,567,267 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alight by 2.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,860 shares of the company's stock valued at $1,653,000 after buying an additional 6,639 shares in the last quarter. Moore Capital Management LP lifted its position in shares of Alight by 14.3% during the 4th quarter. Moore Capital Management LP now owns 3,872,976 shares of the company's stock valued at $26,801,000 after acquiring an additional 484,122 shares during the last quarter. J. Goldman & Co LP boosted its stake in shares of Alight by 105.3% during the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock worth $39,960,000 after acquiring an additional 2,961,443 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Alight by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 17,624,572 shares of the company's stock worth $121,961,000 after acquiring an additional 229,466 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. DA Davidson reaffirmed a "buy" rating and set a $10.00 target price on shares of Alight in a report on Wednesday, March 26th. Wedbush cut their price objective 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.94.

Alight Stock Up 0.2%

NYSE:ALIT traded up $0.01 on Tuesday, hitting $5.72. 952,514 shares of the company's stock traded hands, compared to its average volume of 8,194,407. The firm has a 50-day moving average price of $5.48 and a 200-day moving average price of $6.50. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.11 billion, a PE ratio of -19.05 and a beta of 0.99. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $548.00 million during 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 firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. Equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company 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. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.80%. Alight's payout ratio is -114.29%.

Insider Buying and Selling at Alight

In other Alight news, Director Robert A. Schriesheim acquired 22,092 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, 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 hyperlink. Also, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the purchase, the director now directly owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. The trade was a 6.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 125,092 shares of company stock worth $807,755 over the last 90 days. 5.33% of the stock is currently owned by corporate insiders.

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.