Bullseye Asset Management LLC Sells 6,828 Shares of Alight, Inc. (NYSE:ALIT)

by · The Cerbat Gem

Bullseye Asset Management LLC decreased its position in Alight, Inc. (NYSE:ALIT – Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 534,597 shares of the company’s stock after selling 6,828 shares during the period. Alight accounts for 1.7% of Bullseye Asset Management LLC’s investment portfolio, making the stock its 26th biggest holding. Bullseye Asset Management LLC owned 0.10% of Alight worth $3,700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in 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 acquiring an additional 1,729 shares during the period. Venturi Wealth Management LLC bought a new position in Alight in the 4th quarter valued at $50,000. Headlands Technologies LLC purchased a new stake in shares of Alight during the 4th quarter valued at $84,000. Sterling Capital Management LLC raised its stake in shares of Alight by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 13,224 shares of the company’s stock worth $92,000 after purchasing an additional 11,783 shares during the period. Finally, Winslow Asset Management Inc. purchased a new position in shares of Alight in the 4th quarter worth about $93,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Trading Up 4.2 %

Shares of Alight stock opened at $5.28 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $9.45. The firm has a market cap of $2.86 billion, a PE ratio of -17.58 and a beta of 0.97. The company has a 50 day simple moving average of $5.86 and a two-hundred day simple moving average of $6.70.

Alight (NYSE:ALIT – Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s payout ratio is currently -53.33%.

Insiders Place Their Bets

In related news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now directly owns 22,092 shares in the company, valued at $150,004.68. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Massey purchased 100,000 shares of the firm’s stock in a transaction 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 approximately $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. Over the last ninety days, insiders have acquired 125,092 shares of company stock valued at $807,755. 5.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $11.00 price objective on shares of Alight in a report on Tuesday, March 25th. DA Davidson reaffirmed a “buy” rating and issued a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.19.

View Our Latest Stock Analysis on Alight

Alight Profile

(Free Report)

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.

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