Alight, Inc. (NYSE:ALIT) Insider Katie J. Rooney Sells 2,777 Shares

Alight, Inc. (NYSE:ALIT) insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the transaction, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alight Trading Down 2.2 %

Alight stock opened at $9.44 on Wednesday. Alight, Inc. has a 52-week low of $6.33 and a 52-week high of $10.38. The company has a market cap of $5.31 billion, a P/E ratio of -17.16, a P/E/G ratio of 1.52 and a beta of 0.92. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $9.26 and a two-hundred day simple moving average of $8.19.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion. Analysts predict that Alight, Inc. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Alight

A number of hedge funds have recently modified their holdings of ALIT. Greenlight Capital Inc. purchased a new position in Alight during the fourth quarter valued at $78,831,000. Norges Bank bought a new position in shares of Alight during the 4th quarter valued at approximately $42,947,000. Fidelity National Financial Inc. increased its holdings in Alight by 33.3% in the 3rd quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock worth $141,800,000 after acquiring an additional 5,000,000 shares in the last quarter. State Street Corp increased its holdings in Alight by 616.8% in the 2nd quarter. State Street Corp now owns 5,799,562 shares of the company’s stock worth $39,147,000 after acquiring an additional 4,990,518 shares in the last quarter. Finally, UBS Group AG raised its stake in Alight by 1,767.5% during the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock worth $42,633,000 after acquiring an additional 4,730,410 shares during the period. Institutional investors own 96.74% of the company’s stock.

Analysts Set New Price Targets

ALIT has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Canaccord Genuity Group upped their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Needham & Company LLC lifted their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. TheStreet upgraded shares of Alight from a “d+” rating to a “c-” rating in a research note on Tuesday, December 12th. Finally, Citigroup reaffirmed a “buy” rating and set a $12.00 price target on shares of Alight in a report on Friday, January 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alight has a consensus rating of “Buy” and an average price target of $12.71.

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.