Key Points
- CEO Rohit Verma bought 100,000 shares of Alight on Feb. 24 at an average price of $0.77 per share for $77,000, boosting his stake 10.84% to 1,022,883 shares (worth roughly $787,620).
- Alight missed quarterly estimates on Feb. 19 (EPS $0.18 vs. $0.25 consensus; revenue $653M vs. $654.3M), and its stock trades near $0.83 with a market cap of $444.16M, a negative P/E, and a consensus analyst rating of "Hold" with a $3.56 target.
Alight, Inc. (NYSE:ALIT - Get Free Report) CEO Rohit Verma purchased 100,000 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was bought at an average cost of $0.77 per share, for a total transaction of $77,000.00. Following the purchase, the chief executive officer owned 1,022,883 shares of the company's stock, valued at approximately $787,619.91. This represents a 10.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Alight Stock Up 5.6%
Alight stock traded up $0.04 during midday trading on Thursday, reaching $0.83. The stock had a trading volume of 21,528,866 shares, compared to its average volume of 17,516,779. The stock has a market capitalization 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. The firm's fifty day simple moving average is $1.57 and its 200-day simple moving average is $2.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. Alight, Inc. has a 1-year low of $0.65 and a 1-year high of $6.90.
Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Thursday, February 19th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.07). The firm had revenue of $653.00 million during the quarter, compared to the consensus estimate of $654.30 million. Alight had a negative net margin of 136.91% and a positive return on equity of 8.01%. As a group, analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.
Institutional Investors Weigh In On Alight
Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company's stock valued at $29,000 after buying an additional 3,138 shares during the period. PNC Financial Services Group Inc. lifted its stake in Alight by 4.7% in the second quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company's stock valued at $411,000 after buying an additional 3,295 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Alight by 68.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company's stock worth $46,000 after buying an additional 3,300 shares during the period. Winslow Asset Management Inc. lifted its position in shares of Alight by 21.7% during the 2nd quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company's stock valued at $110,000 after acquiring an additional 3,450 shares during the period. Finally, Strs Ohio acquired a new stake in Alight in the first quarter worth $25,000. Institutional investors and hedge funds own 96.74% of the company's stock.
Analysts Set New Price Targets
Several analysts have issued reports on ALIT shares. Weiss Ratings restated a "sell (d-)" rating on shares of Alight in a research note on Wednesday, January 21st. Wedbush cut their price target on Alight from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Thursday, November 6th. Needham & Company LLC downgraded shares of Alight from a "buy" rating to a "hold" rating in a report on Thursday, February 19th. Bank of America began coverage on shares of Alight in a research note on Tuesday, February 17th. They issued an "underperform" rating and a $1.40 price target on the stock. Finally, DA Davidson lowered their target price on Alight from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $3.56.
View Our Latest Stock Report on ALIT
About Alight
(
Get Free Report)
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.
Further Reading
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