Fox Run Management L.L.C. Acquires Shares of 40,907 Alight, Inc. (NYSE:ALIT)

Fox Run Management L.L.C. bought a new position in shares of Alight, Inc. (NYSE:ALIT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 40,907 shares of the company’s stock, valued at approximately $283,000.

A number of other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Alight during the fourth quarter worth $585,000. Sei Investments Co. raised its holdings in shares of Alight by 26.9% in the 4th quarter. Sei Investments Co. now owns 284,164 shares of the company’s stock worth $1,966,000 after acquiring an additional 60,257 shares during the last quarter. American Century Companies Inc. lifted its position in Alight by 214.0% in the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company’s stock valued at $31,839,000 after acquiring an additional 3,135,846 shares in the last quarter. Virtu Financial LLC acquired a new position in Alight during the 4th quarter valued at about $379,000. Finally, Palogic Value Management L.P. increased its holdings in Alight by 13.5% during the 4th quarter. Palogic Value Management L.P. now owns 420,000 shares of the company’s stock worth $2,906,000 after purchasing an additional 50,000 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALIT. DA Davidson restated a “buy” rating and issued a $10.00 target price on shares of Alight in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Alight in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.19.

Insider Buying and Selling at Alight

In other Alight news, Director Richard N. Massey acquired 100,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were acquired 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 directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of Alight stock in a transaction dated 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 purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 125,092 shares of company stock valued at $807,755. Company insiders own 5.33% of the company’s stock.

Alight Trading Up 0.4 %

Shares of Alight stock opened at $6.23 on Friday. The firm has a market cap of $3.38 billion, a PE ratio of -20.75 and a beta of 0.94. 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 stock has a fifty day moving average price of $6.58 and a 200-day moving average price of $7.02.

Alight (NYSE:ALIT) last posted 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). The company had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Equities research analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently disclosed 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 was Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 2.57%. Alight’s payout ratio is -53.33%.

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.