Entropy Technologies LP Buys Shares of 15,500 Alight, Inc. (NYSE:ALIT)

Entropy Technologies LP bought a new stake in Alight, Inc. (NYSE:ALIT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,500 shares of the company’s stock, valued at approximately $107,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew 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 acquiring an additional 1,729 shares during the period. Public Employees Retirement System of Ohio grew its stake in Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after acquiring an additional 1,996 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Alight in the third quarter valued at about $74,000. Nisa Investment Advisors LLC grew its stake in Alight by 54.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company’s stock valued at $85,000 after acquiring an additional 4,049 shares during the period. Finally, Soros Fund Management LLC acquired a new position in Alight in the third quarter valued at about $89,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Performance

ALIT opened at $6.76 on Friday. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. The firm has a market capitalization of $3.67 billion, a PE ratio of -14.07 and a beta of 0.94. 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 simple moving average is $6.86 and its 200 day simple moving average is $7.16.

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

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 2.37%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. KeyCorp upped their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reduced their price objective on Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, January 9th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.61.

Insider Buying and Selling at Alight

In other Alight news, President Gregory R. Goff sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the sale, the president now owns 852,694 shares in the company, valued at $6,821,552. This represents a 22.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.33% of the company’s stock.

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.