David D. Guilmette Acquires 50,000 Shares of Alight, Inc. (NYSE:ALIT) Stock

Alight, Inc. (NYSE:ALIT) Director David D. Guilmette purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The shares were acquired at an average cost of $5.69 per share, with a total value of $284,500.00. Following the completion of the acquisition, the director now directly owns 600,750 shares in the company, valued at approximately $3,418,267.50. This represents a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alight Stock Down 0.7%

Shares of NYSE ALIT opened at $5.67 on Wednesday. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $8.93. The firm’s 50-day moving average is $5.48 and its 200-day moving average is $6.49. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $3.08 billion, a PE ratio of -18.90 and a beta of 0.99.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business had revenue of $548.00 million during the quarter, compared to analyst estimates of $542.66 million. During the same quarter in the prior year, the company earned $0.13 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd. Alight’s dividend payout ratio (DPR) is currently -114.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALIT shares. DA Davidson reissued a “buy” rating and set a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Alight in a research report on Monday, March 24th. Finally, Wedbush decreased their price target on shares of Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the last quarter. CWM LLC boosted its holdings in Alight by 364.8% during the first quarter. CWM LLC now owns 5,104 shares of the company’s stock worth $30,000 after buying an additional 4,006 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Alight by 82.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock worth $31,000 after buying an additional 2,348 shares during the period. GAMMA Investing LLC grew its position in shares of Alight by 5,505.8% during the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company’s stock worth $46,000 after buying an additional 7,653 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Alight by 40.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock valued at $49,000 after acquiring an additional 2,059 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Alight Company Profile

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.