Insider Selling: Alight, Inc. (NYSE:ALIT) President Sells $2,000,000.00 in Stock

Alight, Inc. (NYSE:ALIT) President Gregory R. Goff sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the sale, the president now owns 852,694 shares of the company’s stock, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alight Trading Down 4.8 %

NYSE ALIT opened at $7.52 on Thursday. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The firm has a 50 day simple moving average of $7.44 and a 200-day simple moving average of $7.36. 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 firm has a market cap of $4.08 billion, a price-to-earnings ratio of -15.42 and a beta of 0.92.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Dividend Announcement

The company 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 is Monday, December 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake 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 acquiring an additional 3,342,413 shares during the last quarter. State Street Corp raised its holdings in Alight by 1.2% during the third quarter. State Street Corp now owns 11,905,766 shares of the company’s stock worth $88,103,000 after purchasing an additional 141,828 shares in the last quarter. Rubric Capital Management LP raised its holdings in Alight by 38.3% during the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after purchasing an additional 3,223,617 shares in the last quarter. Geode Capital Management LLC raised its holdings in Alight by 0.8% during the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock worth $74,521,000 after purchasing an additional 77,948 shares in the last quarter. Finally, River Road Asset Management LLC raised its holdings in Alight by 2.9% during the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock worth $73,913,000 after purchasing an additional 286,133 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ALIT shares. Citigroup lowered their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Needham & Company LLC increased their target price on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp increased their target price on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. 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, Wedbush lowered their target price 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

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.