Loomis Sayles & Co. L P Trims Stake in Alight, Inc. (NYSE:ALIT)

Loomis Sayles & Co. L P reduced its stake in Alight, Inc. (NYSE:ALIT) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,785,350 shares of the company’s stock after selling 152,246 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Alight were worth $19,274,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rovida Advisors Inc. boosted its stake in shares of Alight by 27.9% during the 4th quarter. Rovida Advisors Inc. now owns 2,700,000 shares of the company’s stock worth $18,657,000 after purchasing an additional 588,830 shares during the last quarter. Banco BTG Pactual S.A. boosted its position in Alight by 126.1% during the fourth quarter. Banco BTG Pactual S.A. now owns 93,022 shares of the company’s stock worth $628,000 after acquiring an additional 51,879 shares during the last quarter. EntryPoint Capital LLC grew its stake in Alight by 147.1% in the 4th quarter. EntryPoint Capital LLC now owns 50,079 shares of the company’s stock worth $347,000 after acquiring an additional 29,812 shares during the period. Prudential Financial Inc. raised its holdings in Alight by 39.4% in the 4th quarter. Prudential Financial Inc. now owns 525,010 shares of the company’s stock valued at $3,633,000 after acquiring an additional 148,350 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Alight by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock worth $282,898,000 after purchasing an additional 292,911 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ALIT. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Alight in a research note on Monday, March 24th. DA Davidson reaffirmed a “buy” rating and set a $10.00 price objective on shares of Alight in a research note on Wednesday. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 target price on shares of Alight in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.19.

Insider Activity

In other Alight news, Director Richard N. Massey acquired 100,000 shares of the stock in a transaction 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 purchase, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of the business’s 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 completion of the transaction, the director now owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 125,092 shares of company stock worth $807,755. 5.33% of the stock is currently owned by company insiders.

Alight Price Performance

ALIT opened at $5.91 on Friday. The company has a 50 day moving average of $6.56 and a two-hundred day moving average of $7.01. Alight, Inc. has a 52-week low of $5.87 and a 52-week high of $9.92. 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 company has a market cap of $3.21 billion, a P/E ratio of -19.68 and a beta of 0.94.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The company had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. On average, analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company 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 2.71%. Alight’s payout ratio is currently -53.33%.

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.