Alight (NYSE:ALIT) Stock: Insider Richard Massey Sells 25,000 Shares

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

Alight Stock Performance

Shares of NYSE ALIT opened at $12.77 on Friday. 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 stock’s fifty day moving average price is $10.85 and its two-hundred day moving average price is $15.63. Alight, Inc. has a one year low of $7.93 and a one year high of $49.40. The firm has a market cap of $344.13 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 posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.54. Alight had a positive return on equity of 15.51% and a negative net margin of 46.04%. The firm had revenue of $500.00 million for the quarter, compared to analysts’ expectations of $473.74 million. On average, equities analysts forecast that Alight, Inc. will post 4.59 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Alight

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in Alight by 45,846.2% in the first quarter. Renaissance Technologies LLC now owns 6,018,948 shares of the company’s stock worth $3,507,000 after purchasing an additional 6,005,848 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Alight by 508.7% in the second quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock valued at $1,021,000 after buying an additional 1,524,070 shares during the period. Militia Capital Management LLC bought a new position in shares of Alight during the 1st quarter worth approximately $661,000. Wellington Management Group LLP boosted its holdings in shares of Alight by 15.3% during the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock worth $2,779,000 after buying an additional 656,746 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Alight during the 2nd quarter worth approximately $187,000. 96.74% of the stock is owned by institutional investors and hedge funds.

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.