Insider Buying: Alight, Inc. (NYSE:ALIT) Director Purchases $150,004.68 in Stock

Alight, Inc. (NYSE:ALIT) Director Robert A. Schriesheim purchased 22,092 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the purchase, the director now owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alight Price Performance

Shares of ALIT stock opened at $6.32 on Friday. Alight, Inc. has a 12 month low of $6.15 and a 12 month high of $10.38. The company has a market capitalization of $3.43 billion, a P/E ratio of -21.05 and a beta of 0.94. The stock has a 50 day moving average of $6.76 and a two-hundred day moving average of $7.13. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last issued its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. As a group, equities 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. Stockholders 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 dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s payout ratio is -53.33%.

Wall Street Analyst Weigh In

ALIT has been the topic of a number of recent analyst reports. KeyCorp lifted their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group lifted their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Alight in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.61.

Hedge Funds Weigh In On Alight

A number of hedge funds and other institutional investors have recently made changes to their positions in ALIT. Nisa Investment Advisors LLC lifted its holdings in shares of Alight by 54.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company’s stock worth $85,000 after acquiring an additional 4,049 shares during the period. US Bancorp DE grew its stake in shares of Alight by 3,543.6% in the 3rd quarter. US Bancorp DE now owns 20,404 shares of the company’s stock valued at $151,000 after purchasing an additional 19,844 shares during the period. Innealta Capital LLC bought a new stake in shares of Alight in the 3rd quarter valued at approximately $105,000. River Road Asset Management LLC grew its stake in shares of Alight by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after purchasing an additional 286,133 shares during the period. Finally, Atria Investments Inc lifted its holdings in shares of Alight by 36.0% during the third quarter. Atria Investments Inc now owns 33,144 shares of the company’s stock valued at $245,000 after acquiring an additional 8,782 shares during the period. 96.74% of the stock is owned by 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.