Alight, Inc. (NYSE:ALIT) Stock Position Increased by Rovida Advisors Inc.

Rovida Advisors Inc. boosted its holdings in Alight, Inc. (NYSE:ALIT) by 27.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,700,000 shares of the company’s stock after acquiring an additional 588,830 shares during the quarter. Alight accounts for approximately 14.5% of Rovida Advisors Inc.’s investment portfolio, making the stock its 2nd biggest holding. Rovida Advisors Inc.’s holdings in Alight were worth $18,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Alight by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock valued at $282,898,000 after purchasing an additional 292,911 shares in the last quarter. State Street Corp increased its position in shares of Alight by 1.2% during the third quarter. State Street Corp now owns 11,905,766 shares of the company’s stock valued at $88,103,000 after buying an additional 141,828 shares during the period. Rubric Capital Management LP lifted its holdings in shares of Alight by 38.3% in the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after buying an additional 3,223,617 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alight by 0.8% in the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock valued at $74,521,000 after acquiring an additional 77,948 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Alight by 11.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company’s stock valued at $46,430,000 after acquiring an additional 712,912 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

ALIT has been the topic of several recent 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. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Alight in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.44.

Alight Trading Down 0.6 %

NYSE ALIT opened at $6.19 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $7.03. Alight, Inc. has a twelve month low of $5.87 and a twelve month high of $10.04. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -20.63 and a beta of 0.94.

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

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, March 3rd. Alight’s dividend payout ratio is currently -53.33%.

Insider Buying and Selling

In other news, Director Robert A. Schriesheim bought 22,092 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the purchase, the director now directly owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard N. Massey purchased 100,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost 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 trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 125,092 shares of company stock worth $807,755 in the last 90 days. 5.33% of the stock is owned by company insiders.

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.