Alight, Inc. (NYSE:ALIT) Shares Bought by Palogic Value Management L.P.

Palogic Value Management L.P. raised its holdings in Alight, Inc. (NYSE:ALIT) by 13.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 420,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Alight accounts for about 1.1% of Palogic Value Management L.P.’s holdings, making the stock its 25th biggest position. Palogic Value Management L.P. owned 0.08% of Alight worth $2,906,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALIT. Atria Investments Inc raised its holdings in Alight by 36.0% in the 3rd quarter. Atria Investments Inc now owns 33,144 shares of the company’s stock valued at $245,000 after acquiring an additional 8,782 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Alight during the 3rd quarter worth $74,000. KBC Group NV increased its holdings in shares of Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares during the last quarter. Swiss National Bank increased its holdings in shares of Alight by 5.0% during the 3rd quarter. Swiss National Bank now owns 792,100 shares of the company’s stock worth $5,862,000 after buying an additional 38,000 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Alight during the 3rd quarter worth $795,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Alight in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.61.

Alight Stock Down 2.4 %

Shares of Alight stock opened at $6.03 on Friday. The company has a fifty day moving average price of $6.63 and a 200 day moving average price of $7.05. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a twelve month low of $5.87 and a twelve month high of $10.38. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -20.08 and a beta of 0.94.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $675.66 million. Equities research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 2.66%. Alight’s payout ratio is currently -53.33%.

Insider Buying and Selling at Alight

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

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.