Rovida Advisors Inc. Has $18.66 Million Stock Holdings in Alight, Inc. (NYSE:ALIT)

Rovida Advisors Inc. lifted its stake in shares of Alight, Inc. (NYSE:ALIT) by 27.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,700,000 shares of the company’s stock after buying an additional 588,830 shares during the quarter. Alight comprises approximately 14.5% of Rovida Advisors Inc.’s investment portfolio, making the stock its 2nd largest holding. Rovida Advisors Inc. owned about 0.50% of Alight worth $18,657,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after buying an additional 1,996 shares during the period. Venturi Wealth Management LLC bought a new stake in Alight in the 4th quarter valued at about $50,000. Soros Fund Management LLC acquired a new position in Alight during the 3rd quarter worth approximately $89,000. Finally, FMR LLC boosted its holdings in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after acquiring an additional 3,689 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

ALIT opened at $6.19 on Wednesday. Alight, Inc. has a 1 year low of $5.87 and a 1 year high of $10.04. 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 company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -20.63 and a beta of 0.94. The firm’s fifty day moving average price is $6.60 and its two-hundred day moving average price is $7.03.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) 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 firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. As a group, analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm 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 annualized dividend and a yield of 2.58%. Alight’s dividend payout ratio is currently -53.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALIT shares. Wedbush restated an “outperform” rating and set a $11.00 price objective on shares of Alight in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Alight in a report on Monday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Alight has an average rating of “Moderate Buy” and an average price target of $10.44.

Insider Buying and Selling at Alight

In related news, Director Richard N. Massey bought 100,000 shares of the company’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 completion of the purchase, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible 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 price of $6.79 per share, with a total value of $150,004.68. Following the purchase, the director now owns 22,092 shares in the company, valued at $150,004.68. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 125,092 shares of company stock worth $807,755 in the last quarter. 5.33% of the stock is currently owned by company 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.