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

Alight, Inc. (NYSE:ALIT) Director Robert A. Jr. Lopes acquired 3,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $6.25 per share, with a total value of $18,750.00. Following the completion of the transaction, the director now owns 23,941 shares in the company, valued at $149,631.25. This represents a 14.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Alight Stock Down 2.4 %

NYSE ALIT traded down $0.15 on Thursday, hitting $5.92. 7,236,362 shares of the company were exchanged, compared to its average volume of 6,638,630. Alight, Inc. has a 12 month low of $5.87 and a 12 month high of $10.38. The company has a market cap of $3.21 billion, a PE ratio of -19.72 and a beta of 0.94. The stock has a fifty day moving average of $6.69 and a 200-day moving average of $7.10. 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 (NYSE:ALIT) last released 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). 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 for the quarter, compared to the consensus estimate of $675.66 million. As a group, analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently announced 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 2.70%. Alight’s payout ratio is -53.33%.

Institutional Trading of Alight

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in shares of Alight in the 3rd quarter valued at $5,063,000. Highland Peak Capital LLC bought a new position in Alight in the 3rd quarter worth $5,315,000. JPMorgan Chase & Co. increased its stake in shares of Alight by 202.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock worth $13,794,000 after acquiring an additional 1,248,465 shares in the last quarter. Wexford Capital LP increased its stake in shares of Alight by 320.2% in the 3rd quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock worth $814,000 after acquiring an additional 83,822 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Alight in the 3rd quarter worth about $1,834,000. Institutional investors own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALIT. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Alight in a research report on Friday, February 21st. KeyCorp upped their price objective 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 objective 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.