Insider Buying: Alight, Inc. (NYSE:ALIT) Director Acquires 3,000 Shares of Stock

Alight, Inc. (NYSE:ALIT) Director Robert A. Jr. Lopes bought 3,000 shares of Alight stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $6.25 per share, with a total value of $18,750.00. Following the completion of the transaction, the director now owns 23,941 shares of the company’s stock, valued at $149,631.25. This trade represents a 14.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alight Stock Performance

Alight stock opened at $6.12 on Friday. Alight, Inc. has a 52-week low of $5.87 and a 52-week high of $10.38. 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 stock has a fifty day moving average price of $6.68 and a two-hundred day moving average price of $7.09. The firm has a market capitalization of $3.32 billion, a P/E ratio of -20.38 and a beta of 0.94.

Alight (NYSE:ALIT) last announced its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. As a group, analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently announced 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. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s dividend payout ratio (DPR) is currently -53.33%.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Alight in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Alight currently has a consensus rating of “Moderate Buy” and an average target price of $10.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Palogic Value Management L.P. raised its position in Alight by 13.5% in the 4th quarter. Palogic Value Management L.P. now owns 420,000 shares of the company’s stock valued at $2,906,000 after purchasing an additional 50,000 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Alight in the fourth quarter valued at about $893,000. Public Employees Retirement System of Ohio raised its holdings in shares of Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock valued at $49,000 after buying an additional 2,059 shares during the last quarter. Alpine Global Management LLC lifted its position in Alight by 16.7% during the 4th quarter. Alpine Global Management LLC now owns 175,000 shares of the company’s stock worth $1,211,000 after buying an additional 25,000 shares in the last quarter. Finally, CSS LLC IL grew its holdings in Alight by 7.9% during the 4th quarter. CSS LLC IL now owns 230,874 shares of the company’s stock worth $1,598,000 after acquiring an additional 16,887 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.