Alight, Inc. (NYSE:ALIT) Director William P. Foley II Sells 5,000,000 Shares

Alight, Inc. (NYSE:ALIT) Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the sale, the director now owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alight Trading Down 6.4 %

Shares of Alight stock traded down $0.54 on Thursday, hitting $7.89. 9,855,532 shares of the company traded hands, compared to its average volume of 5,753,719. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50 day moving average price is $7.25 and its 200-day moving average price is $7.42.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.53%. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts expect that Alight, Inc. will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

Analysts Set New Price Targets

Several research firms have issued reports on ALIT. Citigroup cut their price objective on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. Needham & Company LLC raised their target price on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush dropped their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group boosted their target price on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.95.

Hedge Funds Weigh In On Alight

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Alight by 8.1% during the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock worth $374,707,000 after acquiring an additional 2,842,454 shares during the period. Dimensional Fund Advisors LP grew its holdings in Alight by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after acquiring an additional 3,342,413 shares in the last quarter. Janus Henderson Group PLC lifted its position in Alight by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock valued at $187,745,000 after purchasing an additional 331,303 shares during the last quarter. Rubric Capital Management LP raised its position in shares of Alight by 38.3% during the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after buying an additional 3,223,617 shares in the last quarter. Finally, Wolf Hill Capital Management LP grew its stake in shares of Alight by 28.4% in the 1st quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock worth $109,309,000 after purchasing an additional 2,454,870 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.