Sculptor Capital LP Buys Shares of 250,000 Alight, Inc. (NYSE:ALIT)

Sculptor Capital LP bought a new stake in Alight, Inc. (NYSE:ALIT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 250,000 shares of the company's stock, valued at approximately $1,730,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp grew its stake in shares of Alight by 5.7% in the fourth quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock worth $28,426,000 after acquiring an additional 222,725 shares in the last quarter. Barclays PLC boosted its position in shares of Alight by 148.2% in the 3rd quarter. Barclays PLC now owns 815,841 shares of the company's stock valued at $6,037,000 after purchasing an additional 487,185 shares during the period. EVR Research LP boosted its position in shares of Alight by 16.9% in the 4th quarter. EVR Research LP now owns 2,280,000 shares of the company's stock valued at $15,778,000 after purchasing an additional 330,000 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Alight in the fourth quarter valued at about $893,000. Finally, US Bancorp DE raised its holdings in shares of Alight by 17.5% in the fourth quarter. US Bancorp DE now owns 23,980 shares of the company's stock valued at $166,000 after buying an additional 3,576 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analysts Set New Price Targets

ALIT has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $9.00 price target on shares of Alight in a report on Monday, March 24th. Wedbush dropped their target price 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. Finally, DA Davidson reiterated a "buy" rating and set a $10.00 target price on shares of Alight in a report on Wednesday, March 26th. 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $9.94.

Alight Trading Down 0.7%

ALIT stock traded down $0.04 during midday trading on Tuesday, hitting $5.67. The stock had a trading volume of 11,315,052 shares, compared to its average volume of 6,320,714. The firm has a market cap of $3.08 billion, a PE ratio of -18.90 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $8.93. The company's 50-day moving average price is $5.48 and its 200 day moving average price is $6.50.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $542.66 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm's quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Monday, June 2nd. Alight's payout ratio is currently -114.29%.

Insider Activity at Alight

In other Alight news, Director David D. Guilmette purchased 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average cost of $5.69 per share, with a total value of $284,500.00. Following the transaction, the director now owns 600,750 shares in the company, valued at approximately $3,418,267.50. This trade represents a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard N. Massey purchased 100,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, with a total value of $639,000.00. Following the completion of the transaction, the director now owns 1,573,489 shares in the company, valued at $10,054,594.71. This trade represents a 6.79% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 175,092 shares of company stock worth $1,092,255. 5.33% of the stock is owned by 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.