Alight, Inc. (NYSE:ALIT) Director David D. Guilmette Purchases 50,000 Shares

Alight, Inc. (NYSE:ALIT) Director David D. Guilmette acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were purchased at an average price of $5.69 per share, with a total value of $284,500.00. Following the completion of the acquisition, the director now owns 600,750 shares of the company’s stock, valued at $3,418,267.50. This represents a 9.08% 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 traded down $0.04 on Tuesday, hitting $5.67. The company had a trading volume of 11,315,052 shares, compared to its average volume of 6,322,755. The business has a 50 day moving average of $5.48 and a 200 day moving average of $6.50. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.08 billion, a PE ratio of -18.90 and a beta of 0.99. Alight, Inc. has a 52-week low of $4.49 and a 52-week high of $8.93.

Alight (NYSE:ALIT) last posted its earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.13 earnings per share. As a group, equities analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd. Alight’s dividend payout ratio (DPR) is presently -114.29%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALIT. DA Davidson reissued a “buy” rating and set a $10.00 target price on shares of Alight in a research note on Wednesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Alight in a research report on Monday, March 24th. Finally, Wedbush cut their target price on Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.94.

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after buying an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock valued at $49,000 after purchasing an additional 2,059 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Alight by 17.2% in the 1st quarter. Amalgamated Bank now owns 14,534 shares of the company’s stock valued at $86,000 after purchasing an additional 2,133 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock valued at $31,000 after buying an additional 2,348 shares during the period. Finally, Cornerstone Investment Partners LLC lifted its position in shares of Alight by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock worth $468,000 after purchasing an additional 2,356 shares during the period. 96.74% of the stock is currently 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.