Insider Selling: Alight (NYSE:ALIT) Director Sells 25,000 Shares of Company Stock

Alight, Inc. (NYSE:ALIT) Director Richard Massey sold 25,000 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $12.11, for a total transaction of $302,750.00. Following the completion of the sale, the director directly owned 71,016 shares in the company, valued at approximately $860,003.76. This represents a 26.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alight Stock Performance

Alight stock traded down $0.05 during mid-day trading on Friday, hitting $12.77. 696,487 shares of the company’s stock traded hands, compared to its average volume of 1,087,848. The firm has a 50 day simple moving average of $10.88 and a two-hundred day simple moving average of $15.72. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $344.12 million, a price-to-earnings ratio of -0.33, a P/E/G ratio of 0.23 and a beta of 1.73. Alight, Inc. has a fifty-two week low of $7.93 and a fifty-two week high of $49.40.

Alight (NYSE:ALIT) last issued its earnings results on Tuesday, November 3rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.12 by $0.54. Alight had a positive return on equity of 15.51% and a negative net margin of 46.04%. The company had revenue of $500.00 million during the quarter, compared to the consensus estimate of $473.74 million. On average, research analysts expect that Alight, Inc. will post 4.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Alight

Large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in Alight by 23.1% during the first quarter. PNC Financial Services Group Inc. now owns 68,006 shares of the company’s stock worth $40,000 after acquiring an additional 12,757 shares during the last quarter. Royal Bank of Canada increased its holdings in Alight by 11.4% during the 1st quarter. Royal Bank of Canada now owns 167,489 shares of the company’s stock worth $97,000 after purchasing an additional 17,076 shares during the period. Hsbc Holdings PLC lifted its position in shares of Alight by 22.4% during the 1st quarter. Hsbc Holdings PLC now owns 149,462 shares of the company’s stock worth $87,000 after purchasing an additional 27,345 shares during the last quarter. Allworth Financial LP boosted its holdings in Alight by 116.4% in the second quarter. Allworth Financial LP now owns 64,767 shares of the company’s stock valued at $36,000 after purchasing an additional 34,844 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC acquired a new stake in shares of Alight during the first quarter worth about $27,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ALIT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Alight in a research note on Wednesday. DA Davidson reduced their price objective on shares of Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alight in a report on Monday. Finally, Citigroup reiterated a “neutral” rating and set a $16.00 price objective (down from $20.00) on shares of Alight in a research report on Thursday, August 20th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Alight has an average rating of “Reduce” and a consensus price target of $29.00.

About Alight

Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.

Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.