Insider Buying: Alight, Inc. (NYSE:ALIT) Director Acquires 22,092 Shares of Stock

Alight, Inc. (NYSE:ALIT - Get Free Report) Director Robert A. Schriesheim bought 22,092 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alight Trading Up 0.9 %

ALIT stock traded up $0.06 during midday trading on Friday, reaching $6.38. The company's stock had a trading volume of 10,323,984 shares, compared to its average volume of 6,487,827. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a fifty day simple moving average of $6.76 and a two-hundred day simple moving average of $7.13. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -21.25 and a beta of 0.94.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $680.00 million during the quarter, compared to analysts' expectations of $675.66 million. On average, equities research analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

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Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.04 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 2.51%. Alight's payout ratio is -53.33%.

Analyst Ratings Changes

A number of research firms have recently commented on ALIT. Canaccord Genuity Group increased their target price on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. KeyCorp increased their price target on Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC restated a "buy" rating and set a $9.00 price target on shares of Alight in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $10.61.

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently bought and sold shares of ALIT. Starboard Value LP increased its stake 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 period. Vanguard Group Inc. increased its stake in shares of Alight by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock valued at $282,898,000 after buying an additional 292,911 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in shares of Alight by 13.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock valued at $168,130,000 after buying an additional 2,901,108 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alight by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock valued at $157,215,000 after buying an additional 1,153,963 shares during the period. Finally, Cooper Creek Partners Management LLC increased its stake in shares of Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock valued at $122,514,000 after buying an additional 3,322,705 shares during the period. Hedge funds and other institutional investors own 96.74% of the company's stock.

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.