Clearline Capital LP Sells 240,302 Shares of Alight, Inc. (NYSE:ALIT)

Clearline Capital LP trimmed its position in shares of Alight, Inc. (NYSE:ALIT) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,875,927 shares of the company’s stock after selling 240,302 shares during the quarter. Alight accounts for approximately 4.5% of Clearline Capital LP’s portfolio, making the stock its 3rd largest holding. Clearline Capital LP owned about 0.90% of Alight worth $33,741,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Alight by 202.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock valued at $13,794,000 after buying an additional 1,248,465 shares in the last quarter. Barclays PLC boosted its stake in shares of Alight by 148.2% during the third quarter. Barclays PLC now owns 815,841 shares of the company’s stock valued at $6,037,000 after acquiring an additional 487,185 shares during the last quarter. EVR Research LP raised its stake in Alight by 16.9% during the fourth quarter. EVR Research LP now owns 2,280,000 shares of the company’s stock worth $15,778,000 after purchasing an additional 330,000 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Alight during the 4th quarter valued at $893,000. Finally, US Bancorp DE increased its holdings in shares of Alight by 17.5% during the 4th quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after buying an additional 3,576 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Trading Up 0.8 %

ALIT opened at $5.25 on Thursday. 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 12-month low of $4.49 and a 12-month high of $8.93. The firm’s fifty day moving average price is $5.57 and its 200 day moving average price is $6.58. The stock has a market capitalization of $2.85 billion, a PE ratio of -17.50 and a beta of 0.99.

Alight (NYSE:ALIT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. As a group, research analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.05%. Alight’s dividend payout ratio is -53.33%.

Insider Activity

In related news, Director Richard N. Massey acquired 100,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert A. Schriesheim bought 22,092 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 125,092 shares of company stock worth $807,755 in the last 90 days. Company insiders own 5.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALIT shares. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Alight in a research report on Monday, March 24th. DA Davidson restated a “buy” rating and issued a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Alight in a research report on Tuesday, March 25th. One investment 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.

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.