Alight, Inc. Director Purchases $18,750 in Company Stock

On March 13th, Robert A. Jr. Lopes, a director at Alight, Inc. (NYSE:ALIT - Get Free Report), bought 3,000 shares of the company's stock. The shares were purchased at an average price of $6.25 each, totaling $18,750. Following this acquisition, Lopes now holds 23,941 shares in Alight, with a total value of $149,631.25. This purchase marks a 14.33% increase in Lopes' ownership stake in the company. The details of the transaction were disclosed in a filing with the Securities and Exchange Commission.

Alight Stock Performance

Alight's stock experienced a decline of 2.4% on Thursday, closing at $5.92 per share. Over 7 million shares changed hands during the day, exceeding the usual trading volume of approximately 6.64 million shares. The stock has fluctuated in the past year, with a 12-month low of $5.87 and a high of $10.38. Alight, Inc. has a market capitalization of around $3.21 billion, with a price-to-earnings (P/E) ratio of -19.72 and a beta of 0.94. Its fifty-day and 200-day moving averages are $6.69 and $7.10, respectively. Financial metrics show a current ratio of 1.30, a quick ratio of 1.30, and a debt-to-equity ratio of 0.46.

Quarterly Earnings Report

Alight released its latest quarterly earnings on February 20th, reporting earnings of $0.21 per share. This figure fell short of analyst expectations, which were set at $0.25, resulting in a $0.04 miss. The company posted a negative net margin of 5.53% but achieved a return on equity of 5.42%. Revenue for the quarter amounted to $680 million, surpassing the consensus estimate of $675.66 million. Analysts project that Alight, Inc. will report earnings of $0.54 per share for the current fiscal year.

Dividend Announcement

Alight also made a recent announcement regarding its quarterly dividend, which will be distributed on March 17th. Shareholders of record as of March 3rd will receive a dividend of $0.04 per share. The ex-dividend date is also set for March 3rd. This results in an annualized dividend of $0.16 and a yield of 2.70%, with a payout ratio of -53.33%.

Institutional Holdings

Institutional investors and hedge funds have actively traded shares of Alight in recent times. For example, Walleye Capital LLC initiated a new stake valued at approximately $5,063,000 during the third quarter. Also in this quarter, Highland Peak Capital LLC acquired shares worth around $5,315,000. JPMorgan Chase & Co. significantly increased its stake by 202.8%, now holding 1,864,038 shares valued at about $13,794,000 after acquiring an additional 1,248,465 shares. Wexford Capital LP also raised its position by 320.2%, owning 110,000 shares now worth roughly $814,000. Overall, institutional investors hold about 96.74% of Alight’s shares.

Analysts' Perspectives

Research firms have provided various insights into Alight's stock. Needham & Company LLC reaffirmed a “buy” rating and set a price target of $9.00. KeyCorp recently raised its target from $10.00 to $11.00, assigning an “overweight” rating. Canaccord Genuity Group also increased its target from $11.00 to $12.00 while maintaining a “buy” rating. Of the analysts covering the stock, one has given it a hold rating, while eight have issued buy ratings. MarketBeat's data indicates that Alight currently holds a “Moderate Buy” rating with an average price target of $10.61.

About Alight, Inc.

Alight, Inc. provides integrated digital human capital and business solutions through cloud-based platforms globally. The company's operations are divided into two primary segments: Employer Solutions and Professional Services. The Employer Solutions segment focuses on areas such as employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare, payroll services, and operates AI-driven software capabilities.

Conclusion

Alight, Inc. continues to attract interest from both investors and analysts. With significant insider buying and a solid foundational business model, observers will be eager to see how the company's stock performs in the near future.

Alight, Stock, Purchase