Alight, Inc. (NYSE:ALIT) Stock Position Raised by J. Goldman & Co LP

J. Goldman & Co LP lifted its position in Alight, Inc. (NYSE:ALIT) by 105.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,774,590 shares of the company’s stock after buying an additional 2,961,443 shares during the quarter. Alight accounts for about 1.0% of J. Goldman & Co LP’s investment portfolio, making the stock its 17th biggest holding. J. Goldman & Co LP’s holdings in Alight were worth $39,960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after acquiring an additional 1,729 shares in the last quarter. Cornerstone Investment Partners LLC lifted its holdings in Alight by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock worth $468,000 after purchasing an additional 2,356 shares during the last quarter. Xponance Inc. boosted its position in Alight by 8.8% during the fourth quarter. Xponance Inc. now owns 30,229 shares of the company’s stock worth $209,000 after purchasing an additional 2,437 shares during the period. Envestnet Asset Management Inc. grew its holdings in Alight by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company’s stock valued at $309,000 after purchasing an additional 3,273 shares during the last quarter. Finally, US Bancorp DE raised its position 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 purchasing an additional 3,576 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 0.5 %

ALIT stock opened at $5.58 on Friday. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $8.93. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.03 billion, a PE ratio of -18.60 and a beta of 0.99. The business’s 50-day simple moving average is $5.54 and its 200 day simple moving average is $6.55.

Alight (NYSE:ALIT) last announced 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 firm had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Alight’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. On average, research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, June 2nd. Alight’s dividend payout ratio is -114.29%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and set a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Alight in a report on Monday, March 24th. Finally, Wedbush dropped their price objective on Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.94.

Insider Transactions at Alight

In related news, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert A. Schriesheim acquired 22,092 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 125,092 shares of company stock valued at $807,755. Company insiders own 5.33% of the company’s stock.

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.