William P. Foley II Sells 5,000,000 Shares of Alight, Inc. (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alight Trading Down 2.0 %

ALIT opened at $7.73 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a market cap of $4.22 billion, a P/E ratio of -16.10 and a beta of 0.87. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The business has a fifty day simple moving average of $7.28 and a 200-day simple moving average of $7.41.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. Alight’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. On average, equities analysts expect that Alight, Inc. will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a report on Tuesday, August 20th. Wedbush dropped their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group lifted their target price on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC boosted their target price on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup cut their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Institutional Investors Weigh In On Alight

Large investors have recently bought and sold shares of the stock. Swiss National Bank increased its position in shares of Alight by 4.0% in the 1st quarter. Swiss National Bank now owns 713,500 shares of the company’s stock valued at $7,028,000 after purchasing an additional 27,700 shares during the last quarter. Sei Investments Co. lifted its holdings in Alight by 213.9% during the 1st quarter. Sei Investments Co. now owns 252,330 shares of the company’s stock worth $2,486,000 after buying an additional 171,941 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Alight by 20.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock worth $11,161,000 after acquiring an additional 192,405 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Alight by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 74,491 shares of the company’s stock valued at $734,000 after acquiring an additional 5,905 shares during the last quarter. Finally, Nwam LLC acquired a new stake in shares of Alight during the 1st quarter worth about $2,079,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.