Palogic Value Management L.P. Has $2.91 Million Holdings in Alight, Inc. (NYSE:ALIT)

Palogic Value Management L.P. grew its position in Alight, Inc. (NYSE:ALIT - Free Report) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 420,000 shares of the company's stock after acquiring an additional 50,000 shares during the period. Alight accounts for 0.1% of Palogic Value Management L.P.'s portfolio, making the stock its 27th largest holding. Palogic Value Management L.P. owned about 0.08% of Alight worth $2,906,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in shares of Alight in the fourth quarter valued at approximately $893,000. Public Employees Retirement System of Ohio increased its holdings in shares of Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock valued at $49,000 after purchasing an additional 2,059 shares in the last quarter. Alpine Global Management LLC increased its holdings in shares of Alight by 16.7% in the fourth quarter. Alpine Global Management LLC now owns 175,000 shares of the company's stock valued at $1,211,000 after purchasing an additional 25,000 shares in the last quarter. CSS LLC IL increased its holdings in shares of Alight by 7.9% in the fourth quarter. CSS LLC IL now owns 230,874 shares of the company's stock valued at $1,598,000 after purchasing an additional 16,887 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alight by 25.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 960,332 shares of the company's stock valued at $6,645,000 after purchasing an additional 193,117 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALIT. Wedbush dropped their target price on shares of Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 target price on shares of Alight in a research note on Monday, March 24th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $10.00 target price on shares of Alight in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.94.

Alight Stock Down 1.1%

NYSE:ALIT traded down $0.06 on Friday, hitting $5.48. 6,077,184 shares of the company's stock were exchanged, compared to its average volume of 6,357,682. The firm has a 50-day moving average price of $5.37 and a 200-day moving average price of $6.37. 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 52 week low of $4.49 and a 52 week high of $8.93. The company has a market cap of $2.95 billion, a P/E ratio of -18.27 and a beta of 0.99.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. During the same period last year, the firm earned $0.13 earnings per share. The company's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.92%. Alight's payout ratio is -114.29%.

Insider Activity

In related news, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction 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 acquisition, 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 stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 175,092 shares of company stock valued at $1,092,255. 5.33% of the stock is owned by company insiders.

About Alight

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.