Rhumbline Advisers Sells 8,799 Shares of Alight, Inc. (NYSE:ALIT)

Rhumbline Advisers reduced its stake in Alight, Inc. (NYSE:ALIT) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 669,136 shares of the company’s stock after selling 8,799 shares during the period. Rhumbline Advisers owned about 0.12% of Alight worth $4,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after buying an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings 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 acquiring an additional 1,996 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Alight during the 3rd quarter worth $74,000. Nisa Investment Advisors LLC increased its holdings in Alight by 54.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company’s stock worth $85,000 after purchasing an additional 4,049 shares in the last quarter. Finally, KBC Group NV raised its position in Alight by 24.0% in the third 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 during the last quarter. 96.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lifted their target price on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.61.

Alight Price Performance

Shares of ALIT opened at $6.76 on Friday. The business’s 50 day moving average price is $6.80 and its two-hundred day moving average price is $7.14. The firm has a market cap of $3.67 billion, a PE ratio of -22.52 and a beta of 0.94. 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, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38.

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

Alight Dividend Announcement

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 issued a $0.04 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 2.37%. Alight’s dividend payout ratio is currently -53.33%.

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.