Insider Selling: Alight, Inc. (NYSE:ALIT) Director Sells 5,000,000 Shares of Stock

Alight, Inc. (NYSE:ALIT) Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alight Trading Down 6.4 %

Shares of ALIT traded down $0.54 during midday trading on Thursday, hitting $7.89. 9,855,532 shares of the stock were exchanged, compared to its average volume of 5,753,719. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. The stock has a fifty day simple moving average of $7.25 and a 200 day simple moving average of $7.42.

Alight (NYSE:ALIT) last issued its quarterly earnings data 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 positive return on equity of 5.53% and a negative net margin of 7.95%. The company had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same quarter last year, the company posted $0.07 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Alight, Inc. will post 0.42 earnings per share for the current fiscal 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 issued a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Analyst Upgrades and Downgrades

ALIT has been the subject of several research reports. Wedbush cut their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup dropped their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. KeyCorp lifted their price target on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC boosted their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Alight has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Institutional Trading of Alight

A number of institutional investors have recently added to or reduced their stakes in the business. Ingalls & Snyder LLC boosted its holdings in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after acquiring an additional 2,235 shares in the last quarter. Amalgamated Bank grew its stake in Alight by 16.2% in the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after buying an additional 2,289 shares during the last quarter. KBC Group NV grew its position in Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after purchasing an additional 2,331 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after acquiring an additional 3,689 shares during the period. 96.74% of the stock is owned by hedge funds and other 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.