Alight (NYSE:ALIT) Director Sells $302,750.00 in Stock

Alight, Inc. (NYSE:ALIT) Director Richard Massey sold 25,000 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $12.11, for a total transaction of $302,750.00. Following the completion of the sale, the director directly owned 71,016 shares of the company’s stock, valued at approximately $860,003.76. This trade represents a 26.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alight Stock Performance

NYSE ALIT opened at $12.77 on Monday. The company’s fifty day moving average is $10.85 and its two-hundred day moving average is $15.63. Alight, Inc. has a 52-week low of $7.93 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $344.12 million, a price-to-earnings ratio of -0.33, a P/E/G ratio of 0.24 and a beta of 1.73.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.54. Alight had a negative net margin of 46.04% and a positive return on equity of 15.51%. The business had revenue of $500.00 million during the quarter, compared to analyst estimates of $473.74 million. Equities research analysts forecast that Alight, Inc. will post 4.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALIT. Renaissance Technologies LLC raised its stake in Alight by 45,846.2% during the first quarter. Renaissance Technologies LLC now owns 6,018,948 shares of the company’s stock worth $3,507,000 after acquiring an additional 6,005,848 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Alight by 15.3% in the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock valued at $2,779,000 after purchasing an additional 656,746 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Alight by 5.5% in the 1st quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock valued at $1,239,000 after purchasing an additional 110,456 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Alight by 508.7% in the 2nd quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock valued at $1,021,000 after purchasing an additional 1,524,070 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Alight by 6.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,471,750 shares of the company’s stock worth $858,000 after purchasing an additional 91,534 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALIT shares. Needham & Company LLC restated a “hold” rating on shares of Alight in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alight in a research report on Monday, November 2nd. DA Davidson decreased their price target on shares of Alight from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Finally, Citigroup reissued a “neutral” rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a report on Thursday, August 20th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $29.00.

About Alight

Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.

Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.