Alight, Inc. (NYSE:ALIT) Director Acquires $150,004.68 in Stock

Alight, Inc. (NYSE:ALIT) Director Robert A. Schriesheim bought 22,092 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the purchase, the director now directly owns 22,092 shares of the company’s stock, valued at $150,004.68. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Alight Stock Performance

ALIT stock opened at $6.53 on Thursday. 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 company has a 50 day moving average price of $6.78 and a 200 day moving average price of $7.13. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The stock has a market capitalization of $3.55 billion, a PE ratio of -21.78 and a beta of 0.94.

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

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, March 3rd. Alight’s payout ratio is -53.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after buying an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Alight during the 4th quarter worth $50,000. Sandia Investment Management LP bought a new position in Alight during the fourth quarter worth about $69,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Alight in the third quarter valued at about $74,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALIT. KeyCorp lifted their target price on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Alight in a report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their price target on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.61.

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.