Alight, Inc. (NYSE:ALIT) Position Trimmed by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC decreased its position in Alight, Inc. (NYSE:ALIT) by 46.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,288 shares of the company’s stock after selling 7,046 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Alight were worth $57,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after buying an additional 1,729 shares in the last quarter. Cornerstone Investment Partners LLC grew its stake in shares of Alight by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock valued at $468,000 after buying an additional 2,356 shares in the last quarter. Xponance Inc. grew its stake in shares of Alight by 8.8% in the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock valued at $209,000 after buying an additional 2,437 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Alight by 7.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company’s stock valued at $309,000 after buying an additional 3,273 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Alight by 17.5% in the 4th quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after purchasing an additional 3,576 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 0.5%

Shares of ALIT stock opened at $5.58 on Monday. Alight, Inc. has a 12 month low of $4.49 and a 12 month high of $8.93. The firm has a market cap of $3.03 billion, a PE ratio of -18.60 and a beta of 0.99. The stock has a 50 day moving average of $5.54 and a 200-day moving average of $6.55. 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 (NYSE:ALIT) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same quarter last year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, June 2nd. Alight’s dividend payout ratio is presently -114.29%.

Analyst Ratings Changes

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

Insider Activity

In other Alight news, Director Robert A. Schriesheim bought 22,092 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard N. Massey bought 100,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the acquisition, the director now directly owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. The trade was a 6.79% increase in their position. 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. Company 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.