Insider Selling: Alight, Inc. (NYSE:ALIT) CEO Sells 428,574 Shares of Stock

Alight, Inc. (NYSE:ALITGet Free Report) CEO Stephan Scholl sold 428,574 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the sale, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alight Price Performance

NYSE:ALIT traded up $0.23 during mid-day trading on Thursday, reaching $10.31. 8,164,340 shares of the stock were exchanged, compared to its average volume of 7,892,858. The business has a fifty day moving average price of $9.02 and a 200 day moving average price of $8.04. The firm has a market capitalization of $5.80 billion, a PE ratio of -18.33, a PEG ratio of 1.36 and a beta of 0.90. Alight, Inc. has a 1-year low of $6.33 and a 1-year high of $10.35. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58.

Alight (NYSE:ALITGet Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. Research analysts expect that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALIT shares. Needham & Company LLC upped their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday. TheStreet raised Alight from a “d+” rating to a “c-” rating in a report on Tuesday, December 12th. Citigroup reaffirmed a “buy” rating and set a $12.00 target price on shares of Alight in a report on Friday, January 5th. Canaccord Genuity Group began coverage on Alight in a report on Wednesday, December 6th. They set a “buy” rating and a $12.00 target price for the company. Finally, Canaccord Genuity Group boosted their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $12.71.

Get Our Latest Stock Analysis on Alight

Institutional Trading of Alight

Several institutional investors and hedge funds have recently bought and sold shares of ALIT. Greenlight Capital Inc. acquired a new stake in Alight during the 4th quarter worth about $78,831,000. Norges Bank acquired a new position in shares of Alight in the 4th quarter valued at about $42,947,000. Fidelity National Financial Inc. increased its holdings in shares of Alight by 33.3% in the 3rd quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock valued at $141,800,000 after purchasing an additional 5,000,000 shares during the period. State Street Corp increased its holdings in shares of Alight by 616.8% in the 2nd quarter. State Street Corp now owns 5,799,562 shares of the company’s stock valued at $39,147,000 after purchasing an additional 4,990,518 shares during the period. Finally, UBS Group AG increased its holdings in shares of Alight by 1,767.5% in the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock valued at $42,633,000 after purchasing an additional 4,730,410 shares during the period. Institutional investors and hedge funds own 79.56% of the company’s stock.

Alight Company Profile

(Get Free Report)

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.

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