Alight (NYSE:ALIT) Director Richard Massey Sells 25,000 Shares of Company Stock

Alight, Inc. (NYSE:ALIT) Director Richard Massey sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $12.11, for a total transaction of $302,750.00. Following the completion of the transaction, the director owned 71,016 shares of the company’s stock, valued at approximately $860,003.76. The trade was a 26.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alight Stock Down 0.4%

ALIT stock opened at $12.77 on Friday. Alight, Inc. has a 52-week low of $7.93 and a 52-week high of $49.40. The company’s 50 day simple moving average is $10.85 and its 200-day simple moving average is $15.63. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $344.13 million, a P/E ratio of -0.33, a P/E/G ratio of 0.17 and a beta of 1.73.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.54. The firm had revenue of $500.00 million during the quarter, compared to analyst estimates of $473.74 million. Alight had a negative net margin of 90.90% and a positive return on equity of 16.05%. As a group, equities research analysts anticipate that Alight, Inc. will post 4.59 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ALIT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alight in a research note on Monday. DA Davidson reduced their price objective on Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Needham & Company LLC reiterated a “hold” rating on shares of Alight in a research note on Wednesday. Finally, Citigroup reiterated a “neutral” rating and issued a $16.00 target price (down from $20.00) on shares of Alight in a research note on Thursday, August 20th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Alight presently has an average rating of “Reduce” and a consensus price target of $29.00.

Institutional Trading of Alight

Several large investors have recently modified their holdings of ALIT. Renaissance Technologies LLC lifted its position in Alight by 45,846.2% during the 1st quarter. Renaissance Technologies LLC now owns 6,018,948 shares of the company’s stock worth $3,507,000 after acquiring an additional 6,005,848 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Alight by 508.7% in the second quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock worth $1,021,000 after purchasing an additional 1,524,070 shares during the period. Militia Capital Management LLC acquired a new position in shares of Alight during the 1st quarter worth about $661,000. Wellington Management Group LLP boosted its stake in Alight by 15.3% during the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock valued at $2,779,000 after purchasing an additional 656,746 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Alight in the 2nd quarter valued at approximately $187,000. 96.74% of the stock is owned by institutional investors.

About Alight

Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.

Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.