Alight (NYSE:ALIT) Director Buys $233,000.00 in Stock

Alight, Inc. (NYSE:ALIT) Director Richard Massey bought 100,000 shares of Alight stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average cost of $2.33 per share, with a total value of $233,000.00. Following the completion of the transaction, the director owned 100,000 shares of the company’s stock, valued at $233,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alight Stock Down 1.2%

Shares of ALIT opened at $2.30 on Monday. Alight, Inc. has a 12 month low of $1.89 and a 12 month high of $8.05. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -0.56 and a beta of 1.02. The company has a 50-day moving average price of $2.77 and a two-hundred day moving average price of $4.15. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99.

Alight (NYSE:ALIT) last posted its earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The company had revenue of $533.00 million for the quarter, compared to the consensus estimate of $539.43 million. During the same quarter last year, the business earned $0.09 EPS. Alight’s quarterly revenue was down 4.0% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. Equities analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Monday, December 1st. Alight’s dividend payout ratio (DPR) is currently -3.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALIT. Caitong International Asset Management Co. Ltd increased its holdings in shares of Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock valued at $31,000 after purchasing an additional 2,348 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after buying an additional 3,138 shares during the period. PNC Financial Services Group Inc. grew its stake in Alight by 4.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock valued at $411,000 after buying an additional 3,295 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Alight by 68.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock valued at $46,000 after acquiring an additional 3,300 shares during the period. Finally, Winslow Asset Management Inc. boosted its holdings in shares of Alight by 21.7% during the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock worth $110,000 after acquiring an additional 3,450 shares during the period. Institutional investors own 96.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Needham & Company LLC decreased their target price on Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. DA Davidson reaffirmed a “buy” rating and issued a $6.00 price target on shares of Alight in a report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Finally, Wedbush dropped their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.25.

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.