Alight, Inc. (NYSE:ALIT) Director Purchases $13,200.00 in Stock

Key Points

• Director Robert A. Jr. Lopes bought 3,000 shares of Alight, Inc. (NYSE:ALIT) for a total of $13,200, increasing his ownership to 63,951 shares.
• Alight's stock has decreased by 3.1%, currently trading at $3.87, with a market capitalization of $2.08 billion.
• The company announced a quarterly dividend of $0.04 per share, yielding 4.1%, to be paid on September 15th.

Alight, Inc. (NYSE:ALIT - Get Free Report) Director Robert A. Jr. Lopes purchased 3,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $4.40 per share, for a total transaction of $13,200.00. Following the purchase, the director owned 63,951 shares in the company, valued at approximately $281,384.40. The trade was a 4.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Alight Stock Down 4.3%

NYSE ALIT traded down $0.17 during trading hours on Friday, hitting $3.82. 16,804,401 shares of the company were exchanged, compared to its average volume of 8,169,079. The company has a 50 day moving average of $5.42 and a two-hundred day moving average of $5.74. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. Alight, Inc. has a 52-week low of $3.80 and a 52-week high of $8.93. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -1.73 and a beta of 1.00.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $525.26 million. During the same quarter in the prior year, the business earned $0.05 EPS. Alight's revenue was down 1.9% on a year-over-year basis. Equities research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.04 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.2%. Alight's dividend payout ratio is presently -7.24%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in shares of Alight by 5.7% in the 4th quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock valued at $28,426,000 after acquiring an additional 222,725 shares during the last quarter. Starboard Value LP increased its holdings in shares of Alight by 8.8% in the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock valued at $326,818,000 after acquiring an additional 3,833,000 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Alight in the 1st quarter valued at about $428,000. EVR Research LP increased its holdings in shares of Alight by 16.9% in the 4th quarter. EVR Research LP now owns 2,280,000 shares of the company's stock valued at $15,778,000 after acquiring an additional 330,000 shares during the last quarter. Finally, Sculptor Capital LP purchased a new position in shares of Alight in the 4th quarter valued at about $1,730,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ALIT shares. Wedbush cut their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday. UBS Group cut their price objective on Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a report on Wednesday. Finally, Needham & Company LLC cut their price objective on Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.94.

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.