Alight, Inc. (NYSE:ALIT) Insider Sells $645,460.40 in Stock

Alight, Inc. (NYSE:ALIT) insider Gregory A. George sold 84,929 shares of the stock in a transaction dated Friday, November 15th. The stock was 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 directly owns 223,327 shares in the company, valued at approximately $1,697,285.20. The trade was a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Alight Price Performance

ALIT stock opened at $7.67 on Tuesday. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -15.98 and a beta of 0.87. The firm’s 50-day moving average price is $7.28 and its two-hundred day moving average price is $7.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38.

Alight (NYSE:ALIT) last announced its quarterly earnings results 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 positive return on equity of 5.61% and a negative net margin of 7.95%. The company had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. During the same quarter in the previous year, the business earned $0.07 EPS. Alight’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts predict that Alight, Inc. will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wedbush cut their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup lowered their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. KeyCorp upped their target price on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC raised their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP purchased a new stake in shares of Alight in the 2nd quarter worth about $62,162,000. Dimensional Fund Advisors LP lifted its holdings in Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after buying an additional 3,342,413 shares during the period. Vanguard Group Inc. boosted its position in Alight by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after acquiring an additional 2,842,454 shares in the last quarter. Wolf Hill Capital Management LP grew its holdings in shares of Alight by 28.4% during the 1st quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock worth $109,309,000 after acquiring an additional 2,454,870 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Alight by 100.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock worth $26,385,000 after acquiring an additional 1,795,830 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.