Richard N. Massey Purchases 100,000 Shares of Alight, Inc. (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Alight Trading Down 1.9 %

Shares of Alight stock traded down $0.12 on Tuesday, hitting $6.05. 9,583,741 shares of the company’s stock traded hands, compared to its average volume of 6,572,642. The firm’s 50-day moving average price is $6.72 and its two-hundred day moving average price is $7.11. The stock has a market capitalization of $3.28 billion, a PE ratio of -20.15 and a beta of 0.94. Alight, Inc. has a one year low of $5.97 and a one year high of $10.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. On average, research analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s dividend payout ratio is currently -53.33%.

Analysts Set New Price Targets

ALIT has been the topic of several research reports. Canaccord Genuity Group upped their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp upped their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Alight in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.61.

Institutional Trading of Alight

A number of large investors have recently made changes to their positions in the company. Starboard Value LP increased its position in shares of Alight by 8.8% in the 4th 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 in the last quarter. Vanguard Group Inc. increased its position in shares of Alight by 0.7% in the 4th 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 in the last quarter. ArrowMark Colorado Holdings LLC boosted 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 purchasing an additional 2,901,108 shares during the period. Dimensional Fund Advisors LP boosted its stake in Alight by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company’s stock worth $157,215,000 after purchasing an additional 1,153,963 shares during the period. Finally, Cooper Creek Partners Management LLC boosted its stake in Alight by 23.1% in the 4th 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 period. 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.