Insider Buying: Alight, Inc. (NYSE:ALIT) Director Acquires 22,092 Shares of Stock

Alight, Inc. (NYSE:ALIT) Director Robert A. Schriesheim acquired 22,092 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Alight Trading Down 3.4 %

ALIT opened at $6.32 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 $3.43 billion, a price-to-earnings ratio of -21.05 and a beta of 0.94. The firm has a 50 day simple moving average of $6.76 and a 200 day simple moving average of $7.13. Alight, Inc. has a fifty-two week low of $6.15 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). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. On average, sell-side analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The business 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 is Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.53%. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Institutional Trading of Alight

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after acquiring an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Alight by 65.5% during the third 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 in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Alight during the fourth quarter worth $50,000. Oppenheimer & Co. Inc. bought a new position in shares of Alight during the third quarter worth $74,000. Finally, Sandia Investment Management LP bought a new position in shares of Alight during the fourth quarter worth $69,000. 96.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on ALIT shares. KeyCorp lifted their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Alight in a report on Friday, February 21st. Finally, Canaccord Genuity Group increased their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Alight presently has a consensus rating of “Moderate Buy” and an average target price of $10.61.

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.