Sandia Investment Management LP Buys Shares of 10,000 Alight, Inc. (NYSE:ALIT)

Sandia Investment Management LP bought a new stake in Alight, Inc. (NYSE:ALIT) during the fourth quarter, Holdings Channel.com reports. The firm bought 10,000 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sculptor Capital LP acquired a new stake in Alight in the fourth quarter valued at approximately $1,730,000. Shay Capital LLC raised its stake in Alight by 2.4% during the fourth quarter. Shay Capital LLC now owns 128,000 shares of the company’s stock worth $886,000 after buying an additional 3,000 shares during the last quarter. ProShare Advisors LLC raised its stake in Alight by 47.4% during the fourth quarter. ProShare Advisors LLC now owns 118,192 shares of the company’s stock worth $818,000 after buying an additional 37,990 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Alight by 11.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,793,122 shares of the company’s stock worth $12,408,000 after buying an additional 191,075 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in Alight during the fourth quarter worth $501,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Up 0.4%

Shares of NYSE ALIT opened at $5.78 on Friday. The stock has a market capitalization of $3.14 billion, a P/E ratio of -19.25 and a beta of 0.99. The company has a 50-day moving average price of $5.49 and a 200-day moving average price of $6.51. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $8.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The business had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share. On average, equities research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, June 2nd. Alight’s dividend payout ratio (DPR) is presently -114.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALIT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Alight in a research note on Monday, March 24th. DA Davidson reaffirmed a “buy” rating and issued a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. Finally, Wedbush decreased their price target on shares of Alight from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.94.

Insider Buying and Selling

In other news, Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares in the company, valued at $10,054,594.71. This trade represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert A. Schriesheim bought 22,092 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 125,092 shares of company stock worth $807,755. 5.33% of the stock is owned by insiders.

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.