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

Palogic Value Management L.P. lifted its position in shares of Alight, Inc. (NYSE:ALIT) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 420,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Alight comprises approximately 1.1% of Palogic Value Management L.P.’s holdings, making the stock its 25th largest holding. Palogic Value Management L.P.’s holdings in Alight were worth $2,906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after acquiring an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Alight by 65.5% during the 3rd 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 in the last quarter. KBC Group NV raised its position in shares of Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares in the last quarter. Cornerstone Investment Partners LLC raised its position in shares of Alight by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock valued at $468,000 after acquiring an additional 2,356 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of Alight by 8.8% during the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock valued at $209,000 after acquiring an additional 2,437 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $6.39 per share, with a total value of $639,000.00. Following the purchase, the director now directly owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 125,092 shares of company stock valued at $807,755. Company insiders own 5.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Alight in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.61.

Alight Price Performance

Shares of NYSE ALIT opened at $6.03 on Friday. Alight, Inc. has a 1-year low of $5.87 and a 1-year high of $10.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The business’s fifty day moving average price is $6.63 and its two-hundred day moving average price is $7.05. The firm has a market capitalization of $3.27 billion, a PE ratio of -20.08 and a beta of 0.94.

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

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Monday, March 3rd. Alight’s dividend payout ratio (DPR) is -53.33%.

Alight 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.