Alight, Inc. (NYSE:ALIT) COO Sells $340,220.61 in Stock

Alight, Inc. (NYSE:ALIT) COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction on Monday, July 8th. The stock was sold at an average price of $7.11, for a total value of $340,220.61. Following the sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at $20,482,153.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alight Price Performance

NYSE ALIT opened at $7.17 on Friday. The firm’s 50 day moving average is $7.59 and its 200-day moving average is $8.56. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.02 billion, a PE ratio of -11.56, a price-to-earnings-growth ratio of 1.40 and a beta of 0.87. Alight, Inc. has a 12-month low of $6.33 and a 12-month high of $10.38.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. The firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $832.41 million. Equities research analysts anticipate that Alight, Inc. will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alight

Institutional investors have recently added to or reduced their stakes in the company. Greenlight Capital Inc. acquired a new stake in Alight in the fourth quarter valued at $78,831,000. Coronation Fund Managers Ltd. bought a new position in Alight during the first quarter worth about $55,239,000. Norges Bank acquired a new position in Alight during the fourth quarter worth approximately $42,947,000. UBS Group AG increased its position in Alight by 1,767.5% during the fourth quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock worth $42,633,000 after buying an additional 4,730,410 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Alight by 33.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock valued at $103,826,000 after buying an additional 3,018,711 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALIT has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Alight in a research report on Monday, July 1st. DA Davidson restated a “buy” rating and set a $12.00 price objective on shares of Alight in a report on Thursday, June 20th. Canaccord Genuity Group increased their target price on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Bank of America decreased their price target on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a report on Tuesday, June 25th. Finally, KeyCorp dropped their price objective on Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alight presently has an average rating of “Buy” and an average price target of $11.61.

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.