Sculptor Capital LP Takes Position in Alight, Inc. (NYSE:ALIT)

Sculptor Capital LP purchased a new stake in Alight, Inc. (NYSE:ALIT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 250,000 shares of the company's stock, valued at approximately $1,730,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Alight by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock worth $282,898,000 after purchasing an additional 292,911 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake 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 shares of Alight by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock worth $157,215,000 after acquiring an additional 1,153,963 shares during the period. Cooper Creek Partners Management LLC lifted its position in shares of Alight by 23.1% during the 4th 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 period. Finally, Janus Henderson Group PLC raised its position 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 purchasing an additional 229,466 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALIT shares. DA Davidson reiterated a "buy" rating and set a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Wedbush lowered 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, Needham & Company LLC reissued a "buy" rating and set a $9.00 price target on shares of Alight in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.94.

Alight Stock Performance

Shares of ALIT stock traded up $0.04 during trading on Thursday, reaching $5.51. 4,965,117 shares of the company's stock traded hands, compared to its average volume of 6,326,717. The firm's 50-day moving average is $5.47 and its 200 day moving average is $6.48. The company has a market capitalization of $2.99 billion, a P/E ratio of -18.35 and a beta of 0.99. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $8.93. The company has a current ratio of 1.30, a quick 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 (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to analysts' expectations of $542.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. Equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 dividend yield of 2.91%. Alight's dividend payout ratio (DPR) is presently -114.29%.

Insider Transactions at Alight

In other Alight news, Director Richard N. Massey bought 100,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 175,092 shares of company stock valued at $1,092,255. 5.33% of the stock is 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.