Robert A. Schriesheim Purchases 22,092 Shares of Alight, Inc. (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) Director Robert A. Schriesheim bought 22,092 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the transaction, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Alight Stock Down 4.3 %

Shares of NYSE:ALIT traded down $0.28 during trading hours on Tuesday, hitting $6.30. The company’s stock had a trading volume of 10,249,228 shares, compared to its average volume of 6,266,961. The firm’s fifty day moving average price is $6.79 and its 200 day moving average price is $7.14. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -20.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. As a group, research analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.04 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 2.54%. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Analysts Set New Price Targets

Several research firms recently weighed in on ALIT. Canaccord Genuity Group increased their price target on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Alight in a research report on Friday, February 21st. Finally, KeyCorp boosted their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.61.

Hedge Funds Weigh In On Alight

A number of large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after buying an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after acquiring an additional 1,996 shares during the last quarter. KBC Group NV boosted its stake in Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares in the last quarter. Cornerstone Investment Partners LLC grew its holdings in Alight by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock worth $468,000 after purchasing an additional 2,356 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of Alight by 8.8% during the fourth quarter. Xponance Inc. now owns 30,229 shares of the company’s stock worth $209,000 after purchasing an additional 2,437 shares in 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.