Edgestream Partners L.P. Sells 230,477 Shares of Alight, Inc. (NYSE:ALIT)

Edgestream Partners L.P. decreased its stake in shares of Alight, Inc. (NYSE:ALIT) by 39.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 352,104 shares of the company’s stock after selling 230,477 shares during the period. Edgestream Partners L.P. owned approximately 0.06% of Alight worth $2,437,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ALIT. Blue Trust Inc. boosted its stake 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 purchasing an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after purchasing an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Alight during the 4th quarter valued at about $50,000. Oppenheimer & Co. Inc. bought a new stake in shares of Alight during the 3rd quarter valued at about $74,000. Finally, KBC Group NV boosted its stake in shares of Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after purchasing an additional 2,331 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Trading Up 0.9 %

Shares of NYSE ALIT opened at $6.38 on Monday. The firm’s 50 day moving average price is $6.75 and its 200-day moving average price is $7.13. The company has a market cap of $3.46 billion, a PE ratio of -21.25 and a beta of 0.94. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. 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 issued its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (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, equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 2.51%. Alight’s dividend payout ratio is presently -53.33%.

Insider Transactions at Alight

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALIT. KeyCorp boosted their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group boosted their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Alight in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.61.

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.