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

Palogic Value Management L.P. raised its holdings in shares of Alight, Inc. (NYSE:ALIT) by 13.5% in the 4th quarter, HoldingsChannel reports. The fund owned 420,000 shares of the company’s stock after buying 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.’s holdings in Alight were worth $2,906,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ALIT. Blue Trust Inc. increased its stake 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 last quarter. Public Employees Retirement System of Ohio boosted its holdings 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 in the last quarter. Venturi Wealth Management LLC acquired a new stake in Alight during the 4th quarter worth $50,000. Soros Fund Management LLC acquired a new stake in Alight during the 3rd quarter worth $89,000. Finally, FMR LLC lifted its position in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after acquiring an additional 3,689 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 purchased at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the purchase, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 125,092 shares of company stock valued at $807,755 over the last quarter. Company insiders own 5.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Alight in a research report on Monday, March 24th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Alight in a report on Tuesday. Finally, DA Davidson reiterated a “buy” rating and set a $10.00 price target on shares of Alight in a research note on Wednesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.19.

Alight Stock Performance

NYSE:ALIT opened at $5.91 on Friday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -19.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a 1-year low of $5.87 and a 1-year high of $9.92. The firm’s fifty day moving average price is $6.56 and its 200 day moving average price is $7.01.

Alight (NYSE:ALIT) last issued its quarterly earnings results 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). The firm had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. On average, sell-side 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. Investors of record on Monday, March 3rd were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.71%. 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.