Pallas Capital Advisors LLC Purchases Shares of 67,043 Alight, Inc. $ALIT

Pallas Capital Advisors LLC acquired a new stake in Alight, Inc. (NYSE:ALIT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 67,043 shares of the company’s stock, valued at approximately $379,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Strs Ohio purchased a new position in Alight during the first quarter valued at $25,000. CWM LLC increased its stake in Alight by 364.8% in the 1st quarter. CWM LLC now owns 5,104 shares of the company’s stock worth $30,000 after buying an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Alight by 82.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock valued at $31,000 after purchasing an additional 2,348 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in 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 buying an additional 2,059 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Alight by 5,505.8% in the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company’s stock worth $46,000 after buying an additional 7,653 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group reduced their price objective on Alight from $10.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Needham & Company LLC decreased their price target on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Wedbush cut their price target on Alight from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Alight has an average rating of “Buy” and a consensus target price of $8.75.

Alight Trading Down 2.0%

ALIT stock opened at $3.35 on Monday. Alight, Inc. has a 52 week low of $3.33 and a 52 week high of $8.93. The business has a fifty day simple moving average of $4.34 and a 200-day simple moving average of $5.12. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -1.52 and a beta of 1.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. Alight’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 4.8%. Alight’s dividend payout ratio (DPR) is currently -7.24%.

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.