Alight, Inc. (NYSE:ALIT) Director Buys $284,500.00 in Stock

Alight, Inc. (NYSE:ALIT) Director David D. Guilmette purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were acquired at an average price of $5.69 per share, with a total value of $284,500.00. Following the transaction, the director now owns 600,750 shares in the company, valued at approximately $3,418,267.50. The trade was a 9.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alight Stock Down 0.7%

NYSE ALIT traded down $0.04 during trading on Tuesday, hitting $5.67. 11,315,052 shares of the company traded hands, compared to its average volume of 6,322,755. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $5.48 and a 200 day simple moving average of $6.50. The company has a market capitalization of $3.08 billion, a P/E ratio of -18.90 and a beta of 0.99. Alight, Inc. has a 12 month low of $4.49 and a 12 month high of $8.93.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The firm had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. During the same period in the prior year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd. Alight’s dividend payout ratio (DPR) is presently -114.29%.

Institutional Trading of Alight

Institutional investors have recently added to or reduced their stakes in the stock. Starboard Value LP boosted its position in shares of Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock valued at $326,818,000 after buying an additional 3,833,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Alight by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company’s stock valued at $251,606,000 after buying an additional 1,548,078 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Alight by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company’s stock valued at $146,173,000 after purchasing an additional 1,930,440 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in Alight by 13.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company’s stock worth $168,130,000 after acquiring an additional 2,901,108 shares during the last quarter. Finally, Cooper Creek Partners Management LLC increased its position in shares of Alight by 23.1% in the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock worth $122,514,000 after purchasing an additional 3,322,705 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wedbush dropped their price objective on Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. DA Davidson reaffirmed a “buy” rating and issued a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Alight in a research note on Monday, March 24th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.94.

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.