Littlejohn & Co. LLC Purchases 93,500 Shares of Alight, Inc. (NYSE:ALIT)

Littlejohn & Co. LLC increased its position in Alight, Inc. (NYSE:ALIT) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,450,859 shares of the company’s stock after acquiring an additional 93,500 shares during the period. Alight makes up about 5.4% of Littlejohn & Co. LLC’s portfolio, making the stock its 6th biggest holding. Littlejohn & Co. LLC owned about 0.27% of Alight worth $10,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Alight during the 3rd quarter worth about $74,000. KBC Group NV raised its stake in shares of Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after buying an additional 2,331 shares during the last quarter. Ingalls & Snyder LLC lifted its holdings in shares of Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after buying an additional 2,235 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Alight in the third quarter worth about $105,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Performance

NYSE ALIT opened at $7.98 on Monday. 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’s fifty day moving average is $7.34 and its two-hundred day moving average is $7.35. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

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

Alight Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Analyst Upgrades and Downgrades

ALIT has been the subject of several recent research reports. Needham & Company LLC boosted their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp increased their price target on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Wedbush cut their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group increased their target price on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research report on Tuesday, August 20th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Insider Activity

In other news, 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 shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the transaction, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gregory A. George sold 84,929 shares of Alight 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 sale, the insider now owns 223,327 shares of the company’s stock, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.33% of the company’s stock.

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.