Key Points
- Alight director Richard Massey sold 25,000 shares for $302,750 at an average price of $12.11, reducing his direct holdings by 26.04% to 71,016 shares.
- Alight reported quarterly earnings of $0.66 per share, beating the $0.12 analyst consensus, and revenue of $500 million, above estimates of $473.74 million.
- Analyst sentiment is mixed: MarketBeat reports an average “Reduce” rating and a $29 average price target, while recent price targets have been cut by some firms.
Alight, Inc. (NYSE:ALIT - Get Free Report) Director Richard Massey sold 25,000 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $12.11, for a total transaction of $302,750.00. Following the completion of the sale, the director directly owned 71,016 shares of the company's stock, valued at approximately $860,003.76. This trade represents a 26.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Alight Stock Down 0.4%
Shares of ALIT opened at $12.77 on Friday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.42 and a current ratio of 1.42. The company has a 50-day simple moving average of $10.85 and a 200-day simple moving average of $15.63. Alight, Inc. has a 52 week low of $7.93 and a 52 week high of $49.40. The firm has a market capitalization of $344.13 million, a P/E ratio of -0.33, a P/E/G ratio of 0.17 and a beta of 1.73.
Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.54. Alight had a positive return on equity of 16.05% and a negative net margin of 90.90%. The business had revenue of $500.00 million for the quarter, compared to the consensus estimate of $473.74 million. On average, equities research analysts expect that Alight, Inc. will post 4.59 earnings per share for the current year.
Institutional Investors Weigh In On Alight
Large investors have recently bought and sold shares of the business. Jackson Thornton Wealth Management LLC bought a new position in shares of Alight in the first quarter valued at about $27,000. Rangeley Capital LLC bought a new position in shares of Alight in the first quarter worth about $29,000. Bull Harbor Capital LLC bought a new position in shares of Alight in the first quarter worth about $31,000. Essential Partners LLC lifted its position in shares of Alight by 691.5% during the first quarter. Essential Partners LLC now owns 57,333 shares of the company's stock worth $33,000 after purchasing an additional 50,089 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Alight during the second quarter worth approximately $35,000. 96.74% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ALIT has been the topic of a number of research reports. Citigroup restated a "neutral" rating and set a $16.00 price objective (down from $20.00) on shares of Alight in a research report on Thursday, August 20th. DA Davidson decreased their price target on shares of Alight from $32.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, September 24th. Weiss Ratings reissued a "sell (e+)" rating on shares of Alight in a report on Monday. Finally, Needham & Company LLC restated a "hold" rating on shares of Alight in a research note on Wednesday. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Alight presently has an average rating of "Reduce" and an average target price of $29.00.
Read Our Latest Stock Analysis on ALIT
Alight Company Profile
(
Get Free Report)
Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.
Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
