Alight (NYSE:ALIT) CEO Rohit Verma Acquires 100,000 Shares of Stock

Alight, Inc. (NYSE:ALIT) CEO Rohit Verma purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was acquired at an average price of $0.77 per share, for a total transaction of $77,000.00. Following the transaction, the chief executive officer owned 1,022,883 shares of the company’s stock, valued at $787,619.91. The trade was a 10.84% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alight Stock Up 5.6%

Shares of NYSE:ALIT traded up $0.04 during trading on Thursday, reaching $0.83. 21,528,866 shares of the company traded hands, compared to its average volume of 17,516,779. The firm has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $2.50. Alight, Inc. has a 1-year low of $0.65 and a 1-year high of $6.90. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The firm has a market cap of $444.16 million, a P/E ratio of -0.14, a price-to-earnings-growth ratio of 0.13 and a beta of 1.09.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The firm had revenue of $653.00 million during the quarter, compared to analyst estimates of $654.30 million. Alight had a positive return on equity of 8.01% and a negative net margin of 136.91%. Analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of Alight

A number of institutional investors have recently bought and sold shares of ALIT. Corsair Capital Management L.P. acquired a new stake in shares of Alight in the 4th quarter valued at approximately $24,701,000. Goldman Sachs Group Inc. grew its holdings in shares of Alight by 87.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock valued at $48,316,000 after buying an additional 11,534,921 shares during the period. Wellington Management Group LLP raised its stake in Alight by 289.1% during the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock worth $45,345,000 after buying an additional 10,334,915 shares during the period. Millennium Management LLC raised its stake in Alight by 13,050.9% during the 3rd quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock worth $22,703,000 after buying an additional 6,911,229 shares during the period. Finally, Nomura Holdings Inc. bought a new position in Alight during the second quarter worth about $32,050,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

ALIT has been the subject of several recent research reports. KeyCorp cut Alight from an “overweight” rating to a “sector weight” rating in a report on Thursday, February 19th. Bank of America initiated coverage on Alight in a research report on Tuesday, February 17th. They issued an “underperform” rating and a $1.40 target price for the company. Citigroup cut shares of Alight from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $6.50 to $1.00 in a research note on Friday, February 20th. Wedbush lowered their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Finally, UBS Group cut their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.56.

About Alight

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.