Occudo Quantitative Strategies LP Takes $501,000 Position in Alight, Inc. (NYSE:ALIT)

Occudo Quantitative Strategies LP purchased a new stake in shares of Alight, Inc. (NYSE:ALIT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 72,351 shares of the company’s stock, valued at approximately $501,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALIT. Barclays PLC lifted its holdings 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 purchasing an additional 487,185 shares in the last quarter. 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 in the last quarter. KBC Group NV lifted its holdings in shares of Alight by 89.2% during the fourth quarter. KBC Group NV now owns 22,802 shares of the company’s stock valued at $158,000 after purchasing an additional 10,753 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Alight during the fourth quarter valued at $893,000. Finally, Samson Rock Capital LLP increased its position in Alight by 110.0% during the fourth quarter. Samson Rock Capital LLP now owns 504,000 shares of the company’s stock valued at $3,488,000 after acquiring an additional 264,000 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Stock Performance

Shares of ALIT opened at $5.85 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $5.51 and a two-hundred day simple moving average of $6.53. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -19.50 and a beta of 0.99. Alight, Inc. has a 52 week low of $4.49 and a 52 week high of $8.93.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $548.00 million during the quarter, compared to analysts’ expectations of $542.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. On average, analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, June 2nd. Alight’s payout ratio is -114.29%.

Insiders Place Their Bets

In other Alight news, Director Richard N. Massey bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. This trade represents a 6.79% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now directly owns 22,092 shares of the company’s stock, valued at $150,004.68. This represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 125,092 shares of company stock worth $807,755 over the last quarter. 5.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALIT has been the subject of a number of research reports. Wedbush reduced their price objective on Alight from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. DA Davidson reiterated a “buy” rating and set a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Alight in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Alight currently has an average rating of “Moderate Buy” and a consensus target price of $9.94.

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.