Banco BTG Pactual S.A. Buys 51,879 Shares of Alight, Inc. (NYSE:ALIT)

Banco BTG Pactual S.A. raised its stake in shares of Alight, Inc. (NYSE:ALIT) by 126.1% in the 4th quarter, HoldingsChannel reports. The firm owned 93,022 shares of the company’s stock after purchasing an additional 51,879 shares during the period. Banco BTG Pactual S.A.’s holdings in Alight were worth $628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Alight by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock worth $282,898,000 after acquiring an additional 292,911 shares in the last quarter. State Street Corp increased its position in shares of Alight by 1.2% during the 3rd quarter. State Street Corp now owns 11,905,766 shares of the company’s stock valued at $88,103,000 after purchasing an additional 141,828 shares during the last quarter. Rubric Capital Management LP increased its position in shares of Alight by 38.3% during the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock valued at $86,185,000 after purchasing an additional 3,223,617 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alight by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock valued at $74,521,000 after buying an additional 77,948 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Alight by 11.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company’s stock worth $46,430,000 after buying an additional 712,912 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Insider Buying and Selling at Alight

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on ALIT shares. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Alight in a research report on Monday. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Alight in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.44.

Alight Stock Performance

Shares of ALIT opened at $6.19 on Wednesday. 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 one year low of $5.87 and a one year high of $10.04. The firm has a market capitalization of $3.36 billion, a PE ratio of -20.63 and a beta of 0.94. The company has a 50-day simple moving average of $6.60 and a two-hundred day simple moving average of $7.03.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $680.00 million for 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, analysts anticipate 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. Shareholders of record on Monday, March 3rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Monday, March 3rd. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Alight Company 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.