Rohit Verma Purchases 112,000 Shares of Alight (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) CEO Rohit Verma acquired 112,000 shares of Alight stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average price of $0.89 per share, with a total value of $99,680.00. Following the completion of the purchase, the chief executive officer directly owned 1,134,883 shares in the company, valued at $1,010,045.87. This represents a 10.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Rohit Verma also recently made the following trade(s):

• On Tuesday, February 24th, Rohit Verma bought 100,000 shares of Alight stock. The shares were bought at an average price of $0.77 per share, for a total transaction of $77,000.00.

Alight Price Performance

Alight stock opened at $0.92 on Friday. The firm has a market capitalization of $491.21 million, a P/E ratio of -0.16, a PEG ratio of 0.49 and a beta of 1.16. Alight, Inc. has a one year low of $0.65 and a one year high of $6.39. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.31 and a quick ratio of 1.31. The business has a fifty day moving average price of $1.32 and a 200-day moving average price of $2.27.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The company had revenue of $653.00 million for the quarter, compared to the consensus estimate of $654.30 million. Alight had a negative net margin of 136.91% and a positive return on equity of 9.61%. As a group, equities research analysts forecast that Alight, Inc. will post 0.54 EPS for the current year.

Institutional Trading of Alight

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Alight by 3.6% during the first quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock worth $948,000 after purchasing an additional 5,525 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Alight in the first quarter valued at approximately $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alight by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock valued at $1,481,000 after purchasing an additional 10,893 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Alight by 1,776.2% during the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after purchasing an additional 10,657 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Alight by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock worth $6,091,000 after buying an additional 66,771 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson decreased their price target on Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Citigroup lowered shares of Alight from a “buy” rating to a “neutral” rating and cut their price objective for the company from $6.50 to $1.00 in a research report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Needham & Company LLC lowered shares of Alight from a “buy” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Bank of America started coverage on shares of Alight in a research note on Tuesday, February 17th. They issued an “underperform” rating and a $1.40 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.56.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.