Alight, Inc. (NYSE:ALIT) President Gregory R. Goff Sells 250,000 Shares

Alight, Inc. (NYSE:ALIT) President Gregory R. Goff sold 250,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total value of $2,000,000.00. Following the completion of the sale, the president now directly owns 852,694 shares of the company’s stock, valued at $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 link.

Alight Price Performance

NYSE ALIT traded up $0.05 during trading hours on Monday, hitting $8.02. The company had a trading volume of 3,777,500 shares, compared to its average volume of 5,739,672. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The firm has a 50 day simple moving average of $7.41 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 capitalization of $4.35 billion, a price-to-earnings ratio of -16.54 and a beta of 0.91.

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. The firm had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. Equities research analysts expect that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Announces Dividend

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

Analyst Ratings Changes

ALIT has been the subject of several research analyst reports. Needham & Company LLC raised their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wedbush decreased their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a research note on Tuesday, August 20th. Finally, Citigroup cut their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.95.

Institutional Trading of Alight

A number of large investors have recently modified their holdings of the business. Rubric Capital Management LP purchased a new position in shares of Alight during the 2nd quarter valued at about $62,162,000. Dimensional Fund Advisors LP raised its holdings in shares of Alight by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after buying an additional 3,342,413 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Alight by 100.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock valued at $26,385,000 after buying an additional 1,795,830 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Alight by 28.3% during the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after buying an additional 1,358,020 shares in the last quarter. Finally, Engine Capital Management LP purchased a new position in shares of Alight during the 2nd quarter valued at about $9,594,000. Institutional investors own 96.74% of the company’s stock.

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.