Robert Schriesheim Purchases 42,098 Shares of Alight (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) Director Robert Schriesheim bought 42,098 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was bought at an average price of $2.38 per share, for a total transaction of $100,193.24. Following the purchase, the director owned 109,130 shares in the company, valued at approximately $259,729.40. This represents a 62.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Alight Stock Performance

Shares of ALIT stock opened at $2.24 on Wednesday. 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 market capitalization of $1.19 billion, a price-to-earnings ratio of -0.55 and a beta of 1.09. Alight, Inc. has a one year low of $1.89 and a one year high of $8.00. The company’s 50-day simple moving average is $2.74 and its 200-day simple moving average is $4.10.

Alight (NYSE:ALIT) last released its earnings results on Wednesday, November 5th. The company reported $0.12 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 firm had revenue of $533.00 million for the quarter, compared to the consensus estimate of $539.43 million. During the same period in the prior year, the business earned $0.09 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. Equities analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALIT. DA Davidson reissued a “buy” rating and set a $6.00 target price on shares of Alight in a report on Tuesday, November 25th. Wedbush lowered their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Needham & Company LLC cut their target price on shares of Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. Finally, UBS Group dropped their price target on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.25.

Hedge Funds Weigh In On Alight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company’s stock valued at $30,000 after acquiring an additional 4,006 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alight during the first quarter valued at $579,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alight by 8.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,508 shares of the company’s stock valued at $804,000 after purchasing an additional 10,026 shares in the last quarter. XTX Topco Ltd acquired a new stake in Alight in the first quarter worth about $503,000. Finally, Kinney Asset Management LLC lifted its holdings in Alight by 5.8% in the first quarter. Kinney Asset Management LLC now owns 6,877,546 shares of the company’s stock worth $40,784,000 after purchasing an additional 380,000 shares during the period. 96.74% of the stock is owned by institutional investors.

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.