Alight, Inc. (NYSE:ALIT) Director Buys $13,200.00 in Stock

Alight, Inc. (NYSE:ALIT) Director Robert A. Jr. Lopes purchased 3,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $4.40 per share, with a total value of $13,200.00. Following the purchase, the director owned 63,951 shares of the company’s stock, valued at approximately $281,384.40. This represents a 4.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Alight Stock Performance

NYSE ALIT opened at $3.82 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.18. Alight, Inc. has a 1 year low of $3.80 and a 1 year high of $8.93. The company has a market capitalization of $2.06 billion, a PE ratio of -1.73 and a beta of 1.00. The company has a fifty day moving average of $5.42 and a two-hundred day moving average of $5.76.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Alight’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight’s dividend payout ratio is presently -7.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALIT shares. Needham & Company LLC lowered their target price on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday. Wedbush lowered their target price on shares of Alight from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, UBS Group lowered their target price on shares of Alight from $10.00 to $6.50 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.94.

Institutional Investors Weigh In On Alight

A number of institutional investors and hedge funds have recently made changes to their positions in ALIT. Pictet Asset Management Holding SA raised its holdings in shares of Alight by 9.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 51,138 shares of the company’s stock valued at $354,000 after buying an additional 4,442 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Alight during the fourth quarter worth about $644,000. Alliancebernstein L.P. raised its holdings in Alight by 9.6% during the fourth quarter. Alliancebernstein L.P. now owns 473,430 shares of the company’s stock worth $3,276,000 after purchasing an additional 41,600 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Alight by 7.3% during the fourth quarter. Wells Fargo & Company MN now owns 294,377 shares of the company’s stock worth $2,037,000 after purchasing an additional 19,944 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Alight by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company’s stock worth $309,000 after purchasing an additional 3,273 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

About Alight

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.