Virtu Financial LLC Purchases Shares of 54,804 Alight, Inc. (NYSE:ALIT)

Virtu Financial LLC purchased a new position in Alight, Inc. (NYSE:ALIT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 54,804 shares of the company’s stock, valued at approximately $379,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALIT. Blue Trust Inc. raised its stake in Alight by 107.6% in the 4th 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 last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after purchasing an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Alight during the fourth quarter worth about $50,000. Soros Fund Management LLC acquired a new stake in shares of Alight during the third quarter worth about $89,000. Finally, FMR LLC boosted its position in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after buying an additional 3,689 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alight

In other news, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the acquisition, the director now directly owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert A. Schriesheim bought 22,092 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 125,092 shares of company stock valued at $807,755. 5.33% of the stock is owned by company insiders.

Alight Price Performance

ALIT opened at $6.19 on Thursday. The company has a fifty day moving average of $6.59 and a two-hundred day moving average of $7.02. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -20.63 and a beta of 0.94. Alight, Inc. has a fifty-two week low of $5.87 and a fifty-two week high of $10.04. 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 announced its quarterly earnings results 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 business had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. On average, research analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have issued reports on ALIT. Wedbush reissued an “outperform” rating and set a $11.00 price target on shares of Alight in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Alight in a research report on Monday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $10.00 price target on shares of Alight in a report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Alight currently has a consensus rating of “Moderate Buy” and an average 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.