Corbyn Investment Management Inc. MD Boosts Stock Position in Alight, Inc. $ALIT

Corbyn Investment Management Inc. MD increased its position in shares of Alight, Inc. (NYSE:ALIT) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 909,362 shares of the company’s stock after acquiring an additional 64,627 shares during the period. Alight comprises 1.7% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 17th biggest position. Corbyn Investment Management Inc. MD owned approximately 0.17% of Alight worth $5,147,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Alight by 3.8% during the first quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company’s stock worth $251,606,000 after purchasing an additional 1,548,078 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Alight by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company’s stock worth $146,173,000 after buying an additional 1,930,440 shares during the period. American Century Companies Inc. lifted its holdings in Alight by 50.4% during the 1st quarter. American Century Companies Inc. now owns 6,920,646 shares of the company’s stock worth $41,039,000 after buying an additional 2,319,685 shares in the last quarter. Kinney Asset Management LLC boosted its position in Alight by 5.8% in the 1st quarter. Kinney Asset Management LLC now owns 6,877,546 shares of the company’s stock valued at $40,784,000 after buying an additional 380,000 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in Alight by 22.3% in the 1st quarter. Neuberger Berman Group LLC now owns 5,985,157 shares of the company’s stock valued at $35,509,000 after buying an additional 1,092,567 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Up 1.8%

Alight stock opened at $2.31 on Wednesday. The stock has a market cap of $1.25 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 current ratio of 1.21 and a quick ratio of 1.21. The stock’s fifty day moving average is $3.15 and its two-hundred day moving average is $4.44. Alight, Inc. has a 1-year low of $2.24 and a 1-year high of $8.93.

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

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 6.9%. The ex-dividend date is Monday, December 1st. Alight’s dividend payout ratio is currently -3.91%.

Analyst Ratings Changes

ALIT has been the topic of several analyst reports. Wedbush reduced their price objective on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. 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. UBS Group decreased their price objective on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Alight Company 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.