Alight (NYSE:ALIT) CEO Rohit Verma Acquires 100,000 Shares of Stock

Alight, Inc. (NYSE:ALIT) CEO Rohit Verma bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of $0.77 per share, for a total transaction of $77,000.00. Following the purchase, the chief executive officer owned 1,022,883 shares in the company, valued at $787,619.91. This represents a 10.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Alight Trading Up 1.8%

NYSE ALIT traded up $0.01 during trading on Wednesday, hitting $0.78. The stock had a trading volume of 52,762,241 shares, compared to its average volume of 17,446,652. The company has a market capitalization of $416.96 million, a PE ratio of -0.13, a PEG ratio of 0.12 and a beta of 1.09. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average price of $1.60 and a 200 day moving average price of $2.51. Alight, Inc. has a twelve month low of $0.65 and a twelve month high of $7.08.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.07). Alight had a positive return on equity of 8.01% and a negative net margin of 136.91%.The business had revenue of $653.00 million for the quarter, compared to analyst estimates of $654.30 million. As a group, equities research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Alight by 4.7% during the second quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock worth $411,000 after purchasing an additional 3,295 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Alight by 68.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $46,000 after purchasing an additional 3,300 shares in the last quarter. Winslow Asset Management Inc. lifted its position in shares of Alight by 21.7% during the 2nd quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock worth $110,000 after buying an additional 3,450 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Alight in the 1st quarter valued at $25,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

ALIT has been the topic of a number of recent research reports. Needham & Company LLC lowered Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. DA Davidson cut their price target on Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Citigroup lowered Alight from a “buy” rating to a “neutral” rating and reduced their price target for the company from $6.50 to $1.00 in a research report on Friday, February 20th. Wedbush decreased their price objective on Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, KeyCorp lowered shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.56.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.