Richard N. Massey Purchases 100,000 Shares of Alight, Inc. (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alight Stock Up 0.2 %

ALIT stock opened at $6.05 on Thursday. Alight, Inc. has a one year low of $5.97 and a one year high of $10.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The company has a fifty day moving average of $6.71 and a 200-day moving average of $7.11. The stock has a market capitalization of $3.28 billion, a PE ratio of -20.15 and a beta of 0.94.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. As a group, analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s dividend payout ratio is presently -53.33%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after purchasing an additional 1,996 shares during the period. Venturi Wealth Management LLC purchased a new stake in Alight during the fourth quarter worth about $50,000. Sandia Investment Management LP acquired a new position in Alight during the fourth quarter worth about $69,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Alight in the third quarter valued at about $74,000. 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 recent research reports. Canaccord Genuity Group lifted their target price on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Alight in a research note on Friday, February 21st. Finally, KeyCorp upped their target price on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Alight presently has an average rating of “Moderate Buy” and an average target price of $10.61.

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.