Alight (NYSE:ALIT) Director Richard Massey Purchases 100,000 Shares of Stock

Alight, Inc. (NYSE:ALIT) Director Richard Massey purchased 100,000 shares of Alight stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average price of $2.33 per share, with a total value of $233,000.00. Following the completion of the acquisition, the director owned 100,000 shares in the company, valued at $233,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alight Trading Up 1.6%

NYSE:ALIT opened at $2.35 on Tuesday. The company has a market capitalization of $1.25 billion, a P/E ratio of -0.57 and a beta of 1.09. The stock’s 50 day moving average price is $2.75 and its 200 day moving average price is $4.12. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. Alight, Inc. has a 52 week low of $1.89 and a 52 week high of $8.05.

Alight (NYSE:ALIT) last posted its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The business had revenue of $533.00 million during the quarter, compared to analyst estimates of $539.43 million. During the same quarter last year, the firm earned $0.09 earnings per share. Alight’s 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. On average, research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 6.8%. The ex-dividend date is Monday, December 1st. Alight’s payout ratio is -3.91%.

Analyst Upgrades and Downgrades

ALIT has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. DA Davidson reaffirmed a “buy” rating and issued a $6.00 target price on shares of Alight in a report on Tuesday, November 25th. Needham & Company LLC dropped their price target on Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. UBS Group reduced their price objective on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Wedbush cut 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.25.

Institutional Trading of Alight

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Alight by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock valued at $58,950,000 after buying an additional 135,109 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Alight by 270.1% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 361,165 shares of the company’s stock valued at $2,044,000 after acquiring an additional 263,592 shares in the last quarter. Prudential Financial Inc. increased its stake in Alight by 14.0% in the second quarter. Prudential Financial Inc. now owns 1,183,796 shares of the company’s stock valued at $6,700,000 after acquiring an additional 145,606 shares during the period. Stanley Capital Management LLC raised its position in Alight by 47.6% in the first quarter. Stanley Capital Management LLC now owns 3,100,835 shares of the company’s stock worth $18,388,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Alight by 9.2% in the second quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock worth $42,777,000 after purchasing an additional 637,142 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.