Wedbush Securities Inc. Takes $158,000 Position in Alight, Inc. $ALIT

Wedbush Securities Inc. acquired a new position in shares of Alight, Inc. (NYSE:ALIT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,925 shares of the company’s stock, valued at approximately $158,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of Alight in the first quarter worth about $25,000. CWM LLC grew its position in shares of Alight by 364.8% in the 1st quarter. CWM LLC now owns 5,104 shares of the company’s stock valued at $30,000 after purchasing an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Alight by 82.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock worth $31,000 after purchasing an additional 2,348 shares in the last quarter. HB Wealth Management LLC acquired a new stake in Alight during the 2nd quarter worth approximately $62,000. Finally, Jones Financial Companies Lllp lifted its stake in Alight by 1,776.2% in the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after buying an additional 10,657 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Performance

NYSE ALIT opened at $2.27 on Friday. The stock has a market cap of $1.22 billion, a PE ratio of -0.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a 50-day moving average of $3.09 and a 200-day moving average of $4.41. Alight, Inc. has a 52-week low of $2.23 and a 52-week high of $8.35.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The company had revenue of $533.00 million for the quarter, compared to analyst estimates of $539.43 million. During the same quarter last year, the business earned $0.09 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, sell-side analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.04 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.16 annualized dividend and a yield of 7.0%. Alight’s payout ratio is -3.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALIT. Needham & Company LLC cut their price target on Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Wedbush cut their target price on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. Finally, UBS Group lowered their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alight presently has a consensus rating of “Moderate Buy” and an average target price of $6.25.

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.