Rohit Verma Acquires 100,000 Shares of Alight (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) CEO Rohit Verma purchased 100,000 shares of Alight stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $0.77 per share, with a total value of $77,000.00. Following the completion of the transaction, the chief executive officer owned 1,022,883 shares of the company’s stock, valued at $787,619.91. The trade was a 10.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alight Stock Performance

Shares of ALIT stock traded up $0.01 during mid-day trading on Wednesday, hitting $0.78. 52,762,241 shares of the stock were exchanged, compared to its average volume of 17,446,652. The stock’s fifty day simple moving average is $1.60 and its two-hundred day simple moving average is $2.51. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. Alight, Inc. has a 12-month low of $0.65 and a 12-month high of $7.08. The stock has a market capitalization of $416.96 million, a price-to-earnings ratio of -0.13, a P/E/G ratio of 0.12 and a beta of 1.09.

Alight (NYSE:ALIT) last posted its earnings results on Thursday, February 19th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.07). The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $654.30 million. Alight had a negative net margin of 136.91% and a positive return on equity of 8.01%. On average, analysts forecast that Alight, Inc. will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Alight

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Alight by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock worth $58,950,000 after purchasing an additional 135,109 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Alight by 270.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 361,165 shares of the company’s stock valued at $2,044,000 after buying an additional 263,592 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Alight by 14.0% in the second quarter. Prudential Financial Inc. now owns 1,183,796 shares of the company’s stock valued at $6,700,000 after buying an additional 145,606 shares in the last quarter. American Century Companies Inc. grew its holdings in Alight by 9.2% during the second quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock worth $42,777,000 after acquiring an additional 637,142 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Alight by 2.7% in the second quarter. Neuberger Berman Group LLC now owns 6,147,909 shares of the company’s stock worth $34,777,000 after acquiring an additional 162,752 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

ALIT has been the topic of a number of research reports. DA Davidson lowered their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Citigroup cut shares of Alight from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $6.50 to $1.00 in a research note on Friday, February 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Wedbush reduced their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Finally, UBS Group decreased their target price on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.56.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.