Alight, Inc. (NYSE:ALIT) Director William P. Foley II 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. This trade represents a 84.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alight Stock Performance

Alight stock traded down $0.19 during mid-day trading on Friday, hitting $7.70. The company had a trading volume of 467,426 shares, compared to its average volume of 5,729,909. The company has a current ratio of 1.30, a quick ratio of 1.37 and a debt-to-equity ratio of 0.46. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38. The company’s fifty day moving average is $7.26 and its 200-day moving average is $7.42.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts expect that Alight, Inc. will post 0.42 earnings per share for the current year.

Alight Announces Dividend

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

Institutional Investors Weigh In On Alight

Several hedge funds have recently bought and sold shares of ALIT. Rubric Capital Management LP purchased a new position in shares of Alight during the 2nd quarter valued at approximately $62,162,000. Dimensional Fund Advisors LP lifted its position in shares of Alight by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after buying an additional 3,342,413 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Alight by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after buying an additional 2,842,454 shares in the last quarter. Wolf Hill Capital Management LP lifted its position in shares of Alight by 28.4% during the 1st quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock valued at $109,309,000 after buying an additional 2,454,870 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Alight by 100.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock valued at $26,385,000 after buying an additional 1,795,830 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Needham & Company LLC upped their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp upped their price objective on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup cut their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.95.

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.