Katie J. Rooney Sells 47,851 Shares of Alight, Inc. (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) COO Katie J. Rooney sold 47,851 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. Following the sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Alight Stock Up 2.4 %

Shares of Alight stock opened at $7.13 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57. The company has a 50-day moving average of $7.64 and a 200 day moving average of $8.57. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -11.50, a PEG ratio of 1.36 and a beta of 0.87. Alight, Inc. has a 1 year low of $6.33 and a 1 year high of $10.38.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $816.00 million during the quarter, compared to analyst estimates of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. As a group, sell-side analysts anticipate that Alight, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALIT has been the subject of several analyst reports. Bank of America dropped their price target on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Wedbush dropped their price target on shares of Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. DA Davidson reissued a “buy” rating and set a $12.00 price target on shares of Alight in a research report on Thursday, June 20th. Canaccord Genuity Group upped their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, UBS Group upped their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $11.61.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Cetera Advisors LLC purchased a new position in Alight in the first quarter worth about $571,000. Redwood Investment Management LLC purchased a new position in Alight in the first quarter worth about $3,232,000. Levin Capital Strategies L.P. purchased a new position in Alight in the first quarter worth about $246,000. Ancora Advisors LLC raised its holdings in Alight by 20.6% in the first quarter. Ancora Advisors LLC now owns 1,668,788 shares of the company’s stock worth $16,438,000 after buying an additional 285,179 shares during the last quarter. Finally, Invenomic Capital Management LP raised its holdings in Alight by 19.6% in the first quarter. Invenomic Capital Management LP now owns 1,158,923 shares of the company’s stock worth $11,415,000 after buying an additional 189,783 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.