Alight, Inc. (NYSE:ALIT) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its holdings in shares of Alight, Inc. (NYSE:ALIT) by 214.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,600,961 shares of the company’s stock after buying an additional 3,135,846 shares during the period. American Century Companies Inc. owned about 0.85% of Alight worth $31,839,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALIT. Walleye Capital LLC purchased a new stake in shares of Alight during the 3rd quarter valued at about $5,063,000. JPMorgan Chase & Co. increased its stake in Alight by 202.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock worth $13,794,000 after buying an additional 1,248,465 shares during the period. Wexford Capital LP boosted its position in Alight by 320.2% in the 3rd quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock valued at $814,000 after buying an additional 83,822 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Alight during the third quarter worth about $1,834,000. Finally, Weiss Asset Management LP acquired a new position in shares of Alight in the third quarter worth about $1,512,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Stock Performance

Shares of NYSE ALIT opened at $5.91 on Friday. The stock has a fifty day moving average price of $6.56 and a two-hundred day moving average price of $7.01. The firm has a market cap of $3.21 billion, a P/E ratio of -19.68 and a beta of 0.94. Alight, Inc. has a 1 year low of $5.87 and a 1 year 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.

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 for 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%. Research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.71%. The ex-dividend date was Monday, March 3rd. Alight’s dividend payout ratio is currently -53.33%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

About Alight

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.