Alight, Inc. (NYSE:ALIT) Holdings Lifted by Littlejohn & Co. LLC

Littlejohn & Co. LLC increased its position in Alight, Inc. (NYSE:ALIT) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,475,859 shares of the company’s stock after buying an additional 25,000 shares during the quarter. Alight accounts for approximately 4.5% of Littlejohn & Co. LLC’s holdings, making the stock its 7th biggest holding. Littlejohn & Co. LLC owned about 0.27% of Alight worth $8,752,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Neuberger Berman Group LLC increased its stake in shares of Alight by 22.3% in the first quarter. Neuberger Berman Group LLC now owns 5,985,157 shares of the company’s stock worth $35,509,000 after buying an additional 1,092,567 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock worth $31,000 after buying an additional 2,348 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Alight by 130.6% in the first quarter. Russell Investments Group Ltd. now owns 582,836 shares of the company’s stock worth $3,456,000 after buying an additional 330,037 shares during the period. Nuveen LLC purchased a new position in shares of Alight in the first quarter worth $11,707,000. Finally, Aigen Investment Management LP purchased a new position in shares of Alight in the first quarter worth $83,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALIT shares. UBS Group reduced their price objective on shares of Alight from $10.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Wedbush reduced their price objective on shares of Alight from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Finally, Needham & Company LLC reduced their price objective on shares of Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. 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, Alight currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.94.

Insider Activity at Alight

In other Alight news, Director David D. Guilmette bought 50,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average price of $5.69 per share, for a total transaction of $284,500.00. Following the acquisition, the director owned 600,750 shares in the company, valued at approximately $3,418,267.50. This represents a 9.08% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 55,216 shares of company stock worth $307,636. Insiders own 1.93% of the company’s stock.

Alight Stock Performance

Shares of ALIT stock opened at $3.89 on Thursday. Alight, Inc. has a 12 month low of $3.80 and a 12 month high of $8.93. The stock has a market cap of $2.09 billion, a PE ratio of -1.76 and a beta of 1.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $5.33 and its 200-day moving average price is $5.70.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The firm had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $525.26 million. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 2nd. Alight’s payout ratio is -7.24%.

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.