Gregory A. George Sells 84,929 Shares of Alight, Inc. (NYSE:ALIT) 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 transaction, the insider now 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 Securities & Exchange Commission, which can be accessed through this link.

Alight Stock Performance

ALIT opened at $7.75 on Thursday. The company has a market cap of $4.23 billion, a P/E ratio of -16.14 and a beta of 0.87. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $7.31 and its 200-day moving average price is $7.37. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38.

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, meeting 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 business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the prior year, the business posted $0.07 EPS. Alight’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Alight Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALIT. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Tuesday, August 20th. Needham & Company LLC boosted their price target on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup dropped their price objective on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. KeyCorp boosted their target price on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group raised their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alight currently has an average rating of “Moderate Buy” and an average target price of $10.95.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its holdings in Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after buying an additional 1,996 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Alight during the third quarter valued at $74,000. Soros Fund Management LLC purchased a new stake in Alight in the third quarter valued at $89,000. Finally, FMR LLC grew its position in Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.