Magnetar Financial LLC Purchases Shares of 27,231 Alight, Inc. (NYSE:ALIT)

Magnetar Financial LLC acquired a new position in shares of Alight, Inc. (NYSE:ALIT) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 27,231 shares of the company’s stock, valued at approximately $188,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Alight by 107.6% during the fourth 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 during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after buying an additional 1,996 shares during the period. Venturi Wealth Management LLC acquired a new stake in Alight during the 4th quarter worth about $50,000. Oppenheimer & Co. Inc. purchased a new stake in Alight during the third quarter valued at about $74,000. Finally, Soros Fund Management LLC acquired a new position in shares of Alight in the third quarter worth about $89,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alight

In other news, Director Robert A. Schriesheim acquired 22,092 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 purchase, the director now directly owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 125,092 shares of company stock valued at $807,755 in the last three months. Corporate insiders own 5.33% of the company’s stock.

Alight Stock Performance

Shares of ALIT opened at $6.07 on Monday. The company has a market capitalization of $3.29 billion, a PE ratio of -20.22 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. The company’s 50 day moving average price is $6.62 and its 200 day moving average price is $7.04. Alight, Inc. has a 52 week low of $5.87 and a 52 week high of $10.04.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate 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 company had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $675.66 million. Research analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s payout ratio is currently -53.33%.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Alight presently has a consensus rating of “Moderate Buy” and an average target price of $10.31.

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.