Alight (NYSE:ALIT) Director Sells $302,750.00 in Stock

Alight, Inc. (NYSE:ALIT) Director Richard Massey sold 25,000 shares of Alight stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $12.11, for a total value of $302,750.00. Following the completion of the sale, the director owned 71,016 shares in the company, valued at approximately $860,003.76. The trade was a 26.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alight Price Performance

ALIT stock traded down $0.05 during mid-day trading on Friday, reaching $12.77. The company’s stock had a trading volume of 696,487 shares, compared to its average volume of 1,087,848. Alight, Inc. has a fifty-two week low of $7.93 and a fifty-two week high of $49.40. The stock has a market cap of $344.12 million, a PE ratio of -0.33, a P/E/G ratio of 0.23 and a beta of 1.73. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.01. The company’s 50 day moving average is $10.88 and its two-hundred day moving average is $15.72.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.54. Alight had a positive return on equity of 15.51% and a negative net margin of 46.04%. The firm had revenue of $500.00 million for the quarter, compared to analysts’ expectations of $473.74 million. Equities research analysts expect that Alight, Inc. will post 4.92 EPS for the current year.

Wall Street Analyst Weigh In

ALIT has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alight in a research report on Monday. Needham & Company LLC restated a “hold” rating on shares of Alight in a report on Wednesday. DA Davidson lowered their price target on Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Finally, Citigroup reiterated a “neutral” rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a report on Thursday, August 20th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $29.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC boosted its position in shares of Alight by 508.7% during the 2nd quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock valued at $1,021,000 after acquiring an additional 1,524,070 shares in the last quarter. Allworth Financial LP increased its stake in shares of Alight by 116.4% in the second quarter. Allworth Financial LP now owns 64,767 shares of the company’s stock valued at $36,000 after buying an additional 34,844 shares in the last quarter. Corient Private Wealth LP increased its position in Alight by 984.0% in the 2nd quarter. Corient Private Wealth LP now owns 334,980 shares of the company’s stock valued at $188,000 after acquiring an additional 304,079 shares in the last quarter. Angeles Wealth Management LLC raised its position in shares of Alight by 1,948.1% during the second quarter. Angeles Wealth Management LLC now owns 315,400 shares of the company’s stock worth $177,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Alight by 15.3% during the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock worth $2,779,000 after purchasing an additional 656,746 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Company Profile

Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.

Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.