Alight (NYSE:ALIT) Director Kausik Rajgopal Buys 40,000 Shares

Alight, Inc. (NYSE:ALIT) Director Kausik Rajgopal purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was acquired at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the transaction, the director owned 125,202 shares of the company’s stock, valued at $280,452.48. The trade was a 46.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alight Price Performance

Shares of NYSE:ALIT opened at $2.23 on Wednesday. The company has a market capitalization of $1.19 billion, a PE ratio of -0.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a fifty day moving average of $2.84 and a 200-day moving average of $4.22. Alight, Inc. has a one year low of $1.89 and a one year high of $8.12.

Alight (NYSE:ALIT) last announced 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 positive return on equity of 7.89% and a negative net margin of 94.23%.The company had revenue of $533.00 million for the quarter, compared to analyst estimates of $539.43 million. During the same period last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, December 1st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 7.2%. Alight’s payout ratio is currently -3.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Needham & Company LLC decreased their price objective on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. UBS Group decreased their target price on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. DA Davidson reiterated a “buy” rating and set a $6.00 price target on shares of Alight in a report on Tuesday. Wedbush reduced 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, Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Alight currently has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALIT. Wellington Management Group LLP lifted its holdings in shares of Alight by 289.1% during the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock valued at $45,345,000 after buying an additional 10,334,915 shares during the last quarter. Millennium Management LLC raised its position in Alight by 13,050.9% during the third quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock valued at $22,703,000 after acquiring an additional 6,911,229 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Alight in the second quarter valued at approximately $32,050,000. Norges Bank acquired a new stake in Alight in the second quarter valued at approximately $28,596,000. Finally, Bridgeway Capital Management LLC bought a new stake in Alight in the third quarter worth approximately $10,232,000. 96.74% of the stock is owned by institutional investors and hedge funds.

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.