Palogic Value Management L.P. Grows Holdings in Alight, Inc. (NYSE:ALIT)

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 13F filing with the Securities & Exchange Commission. The institutional investor owned 420,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Alight accounts for approximately 1.1% of Palogic Value Management L.P.’s investment portfolio, making the stock its 26th biggest holding. Palogic Value Management L.P. owned approximately 0.08% of Alight worth $2,906,000 at the end of the most recent quarter.

Other institutional investors have 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 valued at $25,000 after purchasing an additional 1,729 shares during the period. Public Employees Retirement System of Ohio lifted 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 buying an additional 1,996 shares in the last quarter. Cornerstone Investment Partners LLC grew its stake in Alight by 3.6% in 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 during the period. Xponance Inc. increased its holdings in Alight by 8.8% in the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock worth $209,000 after acquiring an additional 2,437 shares in the last quarter. Finally, US Bancorp DE raised its position in Alight by 17.5% during the fourth quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after acquiring an additional 3,576 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alight

In other news, Director Richard N. Massey bought 100,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was 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 $10,054,594.71. The trade was a 6.79 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $6.79 per share, for a total transaction 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. In the last quarter, insiders purchased 125,092 shares of company stock worth $807,755. Insiders own 5.33% of the company’s stock.

Alight Stock Performance

Shares of Alight stock opened at $5.91 on Friday. 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 business’s 50 day moving average price is $6.56 and its 200 day moving average price is $7.01. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -19.68 and a beta of 0.94. Alight, Inc. has a one year low of $5.87 and a one year high of $9.92.

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 the consensus estimate of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. On average, research analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.04 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 2.71%. Alight’s dividend payout ratio is currently -53.33%.

Analyst Ratings Changes

ALIT has been the subject of a number of research reports. Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Alight in a research note on Tuesday. DA Davidson reissued a “buy” rating and set a $10.00 target price on shares of Alight in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Alight in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Alight presently has a consensus rating of “Moderate Buy” and an average price target of $10.19.

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.