Xponance Inc. Purchases 2,437 Shares of Alight, Inc. (NYSE:ALIT)

Xponance Inc. grew its holdings in Alight, Inc. (NYSE:ALIT) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,229 shares of the company’s stock after purchasing an additional 2,437 shares during the quarter. Xponance Inc.’s holdings in Alight were worth $209,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Intech Investment Management LLC boosted its stake in Alight by 55.0% during the 4th quarter. Intech Investment Management LLC now owns 166,469 shares of the company’s stock valued at $1,152,000 after purchasing an additional 59,104 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Alight in the fourth quarter valued at approximately $680,000. Cibc World Markets Corp acquired a new stake in shares of Alight in the fourth quarter worth $272,000. Swiss National Bank increased its position in Alight by 6.4% during the fourth quarter. Swiss National Bank now owns 842,400 shares of the company’s stock worth $5,829,000 after acquiring an additional 50,300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Alight by 41.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,482 shares of the company’s stock valued at $868,000 after purchasing an additional 37,030 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Price Performance

Shares of Alight stock opened at $5.91 on Friday. Alight, Inc. has a twelve month low of $5.87 and a twelve month high of $9.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $3.21 billion, a P/E ratio of -19.68 and a beta of 0.94. The firm’s 50-day simple moving average is $6.56 and its 200-day simple moving average is $7.01.

Alight (NYSE:ALIT) last released its quarterly earnings data 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 company had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. As a group, research analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.71%. Alight’s payout ratio is presently -53.33%.

Insider Transactions at Alight

In other news, Director Richard N. Massey purchased 100,000 shares of Alight 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 in the company, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The purchase 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 company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost 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. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 125,092 shares of company stock valued at $807,755. 5.33% of the stock is owned by insiders.

Analysts Set New Price Targets

ALIT has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Monday, March 24th. DA Davidson reissued a “buy” rating and set a $10.00 target price on shares of Alight in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Alight in a research note on Tuesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.19.

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.