Alight, Inc. (NYSE:ALIT) Insider Sells $645,460.40 in Stock

Alight, Inc. (NYSE:ALIT) insider Gregory A. George sold 84,929 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the transaction, the insider now owns 223,327 shares in the company, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alight Trading Down 0.8 %

Shares of Alight stock traded down $0.06 on Monday, reaching $7.67. The company had a trading volume of 6,640,229 shares, compared to its average volume of 5,768,606. The firm’s 50 day moving average price is $7.28 and its two-hundred day moving average price is $7.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. The firm has a market cap of $4.19 billion, a PE ratio of -16.04 and a beta of 0.87.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $538.39 million. During the same period in the prior year, the firm earned $0.07 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Sell-side analysts predict that Alight, Inc. will post 0.42 earnings per share for the current fiscal year.

Alight Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Canaccord Genuity Group lifted their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wedbush dropped their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research report on Tuesday, August 20th. Finally, Needham & Company LLC boosted their target price on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Institutional Trading of Alight

Several hedge funds have recently made changes to their positions in ALIT. Public Employees Retirement System of Ohio increased its stake in Alight by 65.5% during 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 boosted its holdings in Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Alight in the third quarter valued at $74,000. KBC Group NV grew its stake in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after purchasing an additional 2,331 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new stake in Alight during the 3rd quarter worth about $89,000. Institutional investors and hedge funds 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.