Alight (NYSE:ALIT) Shares Gap Up Following Insider Buying Activity

Alight, Inc. (NYSE:ALIT)’s share price gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $2.31, but opened at $2.39. Alight shares last traded at $2.4150, with a volume of 2,878,857 shares traded.

Specifically, Director Robert A. Schriesheim acquired 42,098 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $2.38 per share, with a total value of $100,193.24. Following the acquisition, the director owned 109,130 shares in the company, valued at approximately $259,729.40. This represents a 62.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Massey bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average price of $2.33 per share, for a total transaction of $233,000.00. Following the acquisition, the director directly owned 100,000 shares in the company, valued at approximately $233,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In other news, Director Kausik Rajgopal purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was bought at an average cost of $2.24 per share, for a total transaction of $89,600.00. Following the completion of the acquisition, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. The trade was a 46.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

ALIT has been the topic of several analyst reports. DA Davidson reiterated a “buy” rating and issued a $6.00 price objective on shares of Alight in a research note on Tuesday, November 25th. UBS Group cut their price objective on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Needham & Company LLC lowered their price objective on shares of Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Finally, Wedbush dropped 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. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.25.

Alight Price Performance

The stock has a market cap of $1.19 billion, a P/E ratio of -0.55 and a beta of 1.09. The company’s 50 day moving average price is $2.74 and its 200-day moving average price is $4.10. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The company had revenue of $533.00 million during the quarter, compared to analyst estimates of $539.43 million. During the same period in the previous year, the company posted $0.09 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, sell-side analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, December 1st. This represents a $0.16 annualized dividend and a yield of 7.2%. Alight’s dividend payout ratio (DPR) is presently -3.91%.

Institutional Investors Weigh In On Alight

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 acquiring an additional 3,138 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Alight by 4.7% during the second quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock valued at $411,000 after acquiring an additional 3,295 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Alight by 68.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $46,000 after acquiring an additional 3,300 shares during the period. Finally, Winslow Asset Management Inc. boosted its position in Alight by 21.7% in the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock worth $110,000 after purchasing an additional 3,450 shares during the last quarter. 96.74% of the stock is 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.