Alight (NYSE:ALIT) Shares Gap Up Following Insider Buying Activity

Alight, Inc. (NYSE:ALIT) gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $2.31, but opened at $2.39. Alight shares last traded at $2.4150, with a volume of 2,878,857 shares traded.

Specifically, Director Robert A. Schriesheim purchased 42,098 shares of Alight stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average price of $2.38 per share, with a total value of $100,193.24. Following the completion of the acquisition, the director owned 109,130 shares of the company’s stock, valued at approximately $259,729.40. This trade represents a 62.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the stock in a transaction on Wednesday, November 26th. The shares were acquired at an average price of $2.33 per share, with a total value of $233,000.00. Following the purchase, the director owned 100,000 shares in the company, valued at $233,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In other Alight news, Director Kausik Rajgopal bought 40,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $2.24 per share, with a total value of $89,600.00. Following the transaction, the director directly owned 125,202 shares in the company, valued at approximately $280,452.48. This trade represents a 46.95% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. DA Davidson reissued a “buy” rating and set a $6.00 price target on shares of Alight in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. Wedbush dropped their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Needham & Company LLC reduced their price target on shares of Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, UBS Group decreased their price target on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alight currently has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Alight Trading Up 3.0%

The stock has a market cap of $1.27 billion, a P/E ratio of -0.59 and a beta of 1.02. The firm’s 50 day simple moving average is $2.77 and its two-hundred day simple moving average is $4.15. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The business had revenue of $533.00 million during the quarter, compared to analyst estimates of $539.43 million. During the same period last year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.16 annualized dividend and a dividend yield of 6.7%. Alight’s dividend payout ratio is -3.91%.

Institutional Trading of Alight

A number of institutional investors and hedge funds have recently made changes to their positions in ALIT. CWM LLC boosted its position in Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company’s stock valued at $30,000 after purchasing an additional 4,006 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Alight in the first quarter valued at $579,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Alight by 8.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,508 shares of the company’s stock valued at $804,000 after acquiring an additional 10,026 shares during the period. XTX Topco Ltd bought a new position in shares of Alight during the first quarter worth about $503,000. Finally, Kinney Asset Management LLC grew its position in shares of Alight by 5.8% during the first quarter. Kinney Asset Management LLC now owns 6,877,546 shares of the company’s stock worth $40,784,000 after acquiring an additional 380,000 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.