Palogic Value Management L.P. Increases Stock Position in Alight, Inc. (NYSE:ALIT)

Palogic Value Management L.P. grew its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 420,000 shares of the company's stock after purchasing an additional 50,000 shares during the period. Alight makes up 1.1% of Palogic Value Management L.P.'s investment portfolio, making the stock its 25th biggest holding. Palogic Value Management L.P. owned about 0.08% of Alight worth $2,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after acquiring an additional 1,729 shares during the period. Public Employees Retirement System of Ohio increased its stake in Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock valued at $37,000 after acquiring an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Alight during the 4th quarter valued at about $50,000. Oppenheimer & Co. Inc. bought a new position in shares of Alight during the 3rd quarter valued at $74,000. Finally, Soros Fund Management LLC bought a new stake in shares of Alight in the 3rd quarter valued at about $89,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on ALIT shares. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price objective on shares of Alight in a research report on Monday. Wedbush restated an "outperform" rating and issued a $11.00 price objective on shares of Alight in a report on Tuesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.44.

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Alight Trading Down 0.6 %

ALIT traded down $0.04 on Tuesday, hitting $6.19. The company had a trading volume of 11,168,457 shares, compared to its average volume of 5,420,257. The company has a market cap of $3.36 billion, a PE ratio of -20.63 and a beta of 0.94. The business's fifty day simple moving average is $6.61 and its 200 day simple moving average is $7.03. Alight, Inc. has a 12-month low of $5.87 and a 12-month high of $10.04. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 2.58%. Alight's payout ratio is -53.33%.

Insider Transactions at Alight

In other news, Director Robert A. Schriesheim purchased 22,092 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now owns 22,092 shares in the company, valued at $150,004.68. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 125,092 shares of company stock valued at $807,755 in the last quarter. 5.33% of the stock is currently owned by corporate insiders.

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.