Alight (NYSE:ALIT) Announces Earnings Results, Beats Expectations By $0.02 EPS

Alight (NYSE:ALITGet Rating) issued its quarterly earnings data on Monday. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02, MarketWatch Earnings reports.

NYSE:ALIT traded down $0.29 during mid-day trading on Tuesday, hitting $7.63. The company’s stock had a trading volume of 64,079 shares, compared to its average volume of 2,857,904. The company has a fifty day simple moving average of $9.21. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.57. Alight has a fifty-two week low of $7.53 and a fifty-two week high of $13.34.

A number of equities research analysts have issued reports on the stock. Stephens assumed coverage on shares of Alight in a report on Tuesday, February 8th. They set an “overweight” rating and a $15.00 price target for the company. Zacks Investment Research cut shares of Alight from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd.

In other news, Director William P. Foley II sold 350,000 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $10.10, for a total transaction of $3,535,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Massey acquired 10,000 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were purchased at an average cost of $9.54 per share, with a total value of $95,400.00. Following the acquisition, the director now owns 394,387 shares of the company’s stock, valued at approximately $3,762,451.98. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 752,305 shares of company stock valued at $7,618,465. Company insiders own 3.96% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALIT. Goldman Sachs Group Inc. boosted its stake in Alight by 101.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,377,619 shares of the company’s stock valued at $14,892,000 after acquiring an additional 695,128 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Alight by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,204,499 shares of the company’s stock valued at $13,021,000 after acquiring an additional 20,749 shares during the last quarter. State Street Corp boosted its stake in Alight by 5.0% in the fourth quarter. State Street Corp now owns 803,000 shares of the company’s stock valued at $8,680,000 after acquiring an additional 38,256 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Alight by 85.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 221,938 shares of the company’s stock valued at $2,399,000 after acquiring an additional 102,078 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Alight in the third quarter valued at approximately $2,286,000. 66.88% of the stock is currently owned by institutional investors and hedge funds.

About Alight (Get Rating)

Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.

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