Sterling Capital Management LLC Acquires 11,783 Shares of Alight, Inc. (NYSE:ALIT)

Sterling Capital Management LLC boosted its holdings in shares of Alight, Inc. (NYSE:ALIT) by 817.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,224 shares of the company’s stock after buying an additional 11,783 shares during the period. Sterling Capital Management LLC’s holdings in Alight were worth $92,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALIT. Blue Trust Inc. increased its holdings in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after acquiring an additional 1,729 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Alight during the fourth quarter worth approximately $50,000. Headlands Technologies LLC bought a new stake in Alight during the fourth quarter worth approximately $84,000. FMR LLC grew its holdings in Alight by 44.4% during the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after purchasing an additional 3,689 shares during the last quarter. Finally, Winslow Asset Management Inc. bought a new position in shares of Alight in the fourth quarter valued at approximately $93,000. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Up 1.0 %

ALIT stock opened at $4.86 on Wednesday. The company has a market cap of $2.64 billion, a PE ratio of -16.20 and a beta of 0.97. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $9.45. The business’s 50-day simple moving average is $5.92 and its 200 day simple moving average is $6.73.

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

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 3.29%. Alight’s payout ratio is currently -53.33%.

Analyst Ratings Changes

ALIT has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Alight in a research note on Monday, March 24th. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Alight in a research note on Tuesday, March 25th. Finally, DA Davidson reissued a “buy” rating and set a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.19.

Insider Buying and Selling

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

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.