Permanent Capital Management LP Makes New $848,000 Investment in Alight, Inc. $ALIT

Permanent Capital Management LP purchased a new position in Alight, Inc. (NYSE:ALIT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 260,000 shares of the company’s stock, valued at approximately $848,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Alight by 152.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after buying an additional 3,138 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Alight by 4.7% in the second quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock valued at $411,000 after acquiring an additional 3,295 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Alight by 68.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock valued at $46,000 after acquiring an additional 3,300 shares during the period. Winslow Asset Management Inc. increased its stake in shares of Alight by 21.7% during the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock valued at $110,000 after acquiring an additional 3,450 shares during the period. Finally, Strs Ohio bought a new stake in Alight during the first quarter worth approximately $25,000. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Up 0.3%

Shares of Alight stock opened at $1.98 on Monday. Alight, Inc. has a 12-month low of $1.89 and a 12-month high of $7.66. The firm has a market capitalization of $1.05 billion, a PE ratio of -0.48 and a beta of 1.09. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average is $2.34 and its 200-day moving average is $3.66.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The company had revenue of $533.00 million during the quarter, compared to analysts’ expectations of $539.43 million. During the same period in the prior year, the business posted $0.09 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. Equities analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Monday, December 1st. Alight’s payout ratio is -3.91%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALIT. UBS Group decreased their price target on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wedbush decreased their target price on Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. DA Davidson reiterated a “buy” rating and issued a $6.00 price target on shares of Alight in a research report on Monday, December 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Alight has a consensus rating of “Moderate Buy” and a consensus target price of $5.25.

Insider Buying and Selling at Alight

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average cost of $2.33 per share, with a total value of $233,000.00. Following the completion of the transaction, the director owned 100,000 shares of the company’s stock, valued at approximately $233,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kausik Rajgopal acquired 40,000 shares of Alight stock in a transaction that occurred on Tuesday, November 25th. The stock was acquired at an average cost of $2.24 per share, with a total value of $89,600.00. Following the completion of the purchase, the director owned 125,202 shares in the company, valued at approximately $280,452.48. This represents a 46.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 193,116 shares of company stock valued at $448,984 in the last three months. 1.93% of the stock is currently owned by company insiders.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.