Alight, Inc. (NYSE:ALIT) Director Sells $41,250,000.00 in Stock

Alight, Inc. (NYSE:ALIT) Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Alight Stock Down 2.0 %

ALIT stock opened at $7.73 on Friday. The business has a 50 day moving average of $7.28 and a 200 day moving average of $7.40. The firm has a market cap of $4.22 billion, a PE ratio of -16.10 and a beta of 0.87. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. 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 (NYSE:ALIT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, research analysts forecast that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Alight Announces Dividend

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

Institutional Investors Weigh In On Alight

Several institutional investors and hedge funds have recently made changes to their positions in ALIT. Public Employees Retirement System of Ohio lifted its position in 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 acquiring an additional 1,996 shares in the last quarter. Ingalls & Snyder LLC lifted its holdings in shares of Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after purchasing an additional 2,235 shares in the last quarter. Amalgamated Bank boosted its position in shares of Alight by 16.2% during the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after buying an additional 2,289 shares during the last quarter. KBC Group NV increased its holdings in Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALIT shares. Canaccord Genuity Group boosted their price objective on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC increased their price target on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp lifted their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday. Wedbush reduced their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup lowered 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

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.