Paloma Partners Management Co Takes $403,000 Position in Alight, Inc. (NYSE:ALIT)

Paloma Partners Management Co bought a new stake in Alight, Inc. (NYSE:ALIT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 54,482 shares of the company’s stock, valued at approximately $403,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Alight during the third quarter worth about $74,000. KBC Group NV boosted its holdings in Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares in the last quarter. FMR LLC boosted its holdings in Alight by 44.4% during the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after buying an additional 3,689 shares in the last quarter. Finally, Ingalls & Snyder LLC boosted its holdings in Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

NYSE:ALIT opened at $7.52 on Thursday. The firm has a 50 day simple moving average of $7.44 and a 200-day simple moving average of $7.36. 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 firm has a market cap of $4.08 billion, a PE ratio of -15.42 and a beta of 0.92. Alight, Inc. has a 1-year low of $6.15 and a 1-year high of $10.38.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, equities analysts expect that Alight, Inc. will post 0.47 EPS for the current year.

Alight Dividend Announcement

The business also recently declared a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Insider Buying and Selling

In related news, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the transaction, the insider now owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,334,929 shares of company stock valued at $43,895,460. Insiders own 5.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALIT. Wedbush decreased their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC upped their price target on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a report on Tuesday, August 20th. Canaccord Genuity Group upped their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup reduced their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.95.

Alight 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.