Insider Buying: Alight, Inc. (NYSE:ALIT) Director Acquires $18,750.00 in Stock

Alight, Inc. (NYSE:ALIT) Director Robert A. Jr. Lopes purchased 3,000 shares of Alight stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $18,750.00. Following the completion of the transaction, the director now owns 23,941 shares of the company’s stock, valued at approximately $149,631.25. This represents a 14.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alight Trading Up 3.5 %

ALIT opened at $6.12 on Friday. 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 company has a market cap of $3.32 billion, a price-to-earnings ratio of -20.38 and a beta of 0.94. The firm has a 50 day simple moving average of $6.68 and a 200 day simple moving average of $7.09. Alight, Inc. has a fifty-two week low of $5.87 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. On average, sell-side analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Monday, March 3rd. Alight’s dividend payout ratio (DPR) is -53.33%.

Institutional Investors Weigh In On Alight

Institutional investors and hedge funds have recently modified their holdings of the business. Starboard Value LP increased its stake in Alight by 8.8% in the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock valued at $326,818,000 after purchasing an additional 3,833,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Alight by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock valued at $282,898,000 after purchasing an additional 292,911 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in Alight by 13.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company’s stock valued at $168,130,000 after purchasing an additional 2,901,108 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Alight by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company’s stock valued at $157,215,000 after purchasing an additional 1,153,963 shares in the last quarter. Finally, Cooper Creek Partners Management LLC increased its stake in Alight by 23.1% in the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock valued at $122,514,000 after purchasing an additional 3,322,705 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Alight in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Alight currently has an average rating of “Moderate Buy” and an average price target of $10.61.

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.