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

Palogic Value Management L.P. grew its position in Alight, Inc. (NYSE:ALIT - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 420,000 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Alight comprises 1.1% of Palogic Value Management L.P.'s holdings, making the stock its 26th largest position. Palogic Value Management L.P. owned 0.08% of Alight worth $2,906,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ALIT. Intech Investment Management LLC acquired a new stake in Alight during the third quarter worth $795,000. Charles Schwab Investment Management Inc. increased its position in shares of Alight by 16.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,898,593 shares of the company's stock worth $36,250,000 after purchasing an additional 699,375 shares during the last quarter. FMR LLC raised its holdings in Alight by 44.4% in the 3rd quarter. FMR LLC now owns 11,995 shares of the company's stock valued at $89,000 after buying an additional 3,689 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Alight by 15.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,293,584 shares of the company's stock valued at $9,573,000 after buying an additional 176,700 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Alight by 4.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,452 shares of the company's stock worth $655,000 after buying an additional 4,050 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, Director Robert A. Schriesheim bought 22,092 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased 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 in the company, valued at $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard N. Massey purchased 100,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 125,092 shares of company stock worth $807,755 over the last 90 days. 5.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ALIT. Wedbush reiterated an "outperform" rating and issued a $11.00 target price on shares of Alight in a report on Tuesday, March 25th. DA Davidson reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. Finally, Needham & Company LLC reissued a "buy" rating and set a $9.00 target price on shares of Alight in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.19.

Alight Stock Up 0.9 %

ALIT stock traded up $0.05 during mid-day trading on Wednesday, reaching $5.87. The company had a trading volume of 2,435,559 shares, compared to its average volume of 5,626,101. The firm has a fifty day simple moving average of $6.52 and a 200 day simple moving average of $6.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -19.57 and a beta of 0.94. Alight, Inc. has a fifty-two week low of $5.73 and a fifty-two week high of $9.64.

Alight (NYSE:ALIT - Get Free Report) last announced 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 firm had revenue of $680.00 million during the quarter, compared to analysts' expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. Analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The firm 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. This represents a $0.16 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's dividend payout ratio (DPR) is presently -53.33%.

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.