Bayesian Capital Management LP Acquires Shares of 119,181 Alight, Inc. (NYSE:ALIT)

Bayesian Capital Management LP bought a new position in Alight, Inc. (NYSE:ALIT) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 119,181 shares of the company’s stock, valued at approximately $825,000.

Several other large investors have also added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Alight during the 4th quarter valued at $50,000. Headlands Technologies LLC purchased a new position in Alight during the 4th quarter worth $84,000. Sterling Capital Management LLC grew its stake in shares of Alight by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 13,224 shares of the company’s stock worth $92,000 after acquiring an additional 11,783 shares in the last quarter. Finally, Winslow Asset Management Inc. bought a new position in shares of Alight during the fourth quarter valued at about $93,000. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 1.2 %

ALIT stock opened at $5.26 on Tuesday. Alight, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $9.45. The stock has a fifty day moving average of $5.63 and a 200-day moving average of $6.60. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -17.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

Alight (NYSE:ALIT) last posted its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. As a group, equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 dividend yield of 3.04%. The ex-dividend date is Monday, June 2nd. Alight’s payout ratio is currently -53.33%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of Alight in a research report on Tuesday, March 25th. Finally, DA Davidson reaffirmed a “buy” rating and set a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. One 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, the company currently has an average rating of “Moderate Buy” and an average target price of $10.19.

Insider Activity

In other news, Director Robert A. Schriesheim bought 22,092 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the acquisition, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $6.39 per share, with a total value of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 125,092 shares of company stock worth $807,755. 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.