Alight, Inc. (NYSE:ALIT) Director Purchases $639,000.00 in Stock

Alight, Inc. (NYSE:ALIT) Director Richard N. Massey acquired 100,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Alight Stock Performance

Alight stock opened at $6.05 on Wednesday. The firm has a 50 day simple moving average of $6.72 and a 200-day simple moving average of $7.11. Alight, Inc. has a 1-year low of $5.97 and a 1-year high of $10.38. 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 has a market cap of $3.28 billion, a price-to-earnings ratio of -20.15 and a beta of 0.94.

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 the consensus estimate of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $675.66 million. On average, analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 2.65%. Alight’s dividend payout ratio (DPR) is -53.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALIT. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Alight in a research report on Friday, February 21st. KeyCorp upped their price target 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, Canaccord Genuity Group upped their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.61.

Hedge Funds Weigh In On Alight

A number of hedge funds have recently made changes to their positions in ALIT. Blue Trust Inc. boosted its position in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after purchasing an additional 1,996 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Alight during the 4th quarter worth approximately $50,000. Sandia Investment Management LP purchased a new position in shares of Alight during the 4th quarter worth approximately $69,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Alight during the 3rd quarter worth approximately $74,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.