Insider Selling: Alight, Inc. (NYSE:ALIT) Director Sells 5,000,000 Shares of Stock

Alight, Inc. (NYSE:ALIT) Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now owns 883,323 shares in the company, valued at $7,287,414.75. The trade was a 84.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Alight Trading Down 2.4 %

Shares of NYSE:ALIT traded down $0.19 during midday trading on Friday, reaching $7.70. 467,426 shares of the company’s stock were exchanged, compared to its average volume of 5,729,909. The firm’s 50 day simple moving average is $7.26 and its two-hundred day simple moving average is $7.42. The company has a quick ratio of 1.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. On average, research analysts anticipate that Alight, Inc. will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in Alight by 20.5% during the first quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock worth $11,161,000 after acquiring an additional 192,405 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Alight by 15.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after purchasing an additional 76,485 shares during the last quarter. Victory Capital Management Inc. increased its position in Alight by 28.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after acquiring an additional 1,358,020 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Alight in the 1st quarter valued at approximately $4,237,000. Finally, River Road Asset Management LLC increased its position in Alight by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after acquiring an additional 286,133 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALIT shares. Needham & Company LLC raised their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity Group raised their price objective on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp raised their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday. Wedbush cut their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup cut their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Alight presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

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.