Alight (NYSE:ALIT) CEO Rohit Verma Purchases 112,000 Shares

Alight, Inc. (NYSE:ALIT) CEO Rohit Verma purchased 112,000 shares of the stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $0.89 per share, for a total transaction of $99,680.00. Following the acquisition, the chief executive officer owned 1,134,883 shares in the company, valued at approximately $1,010,045.87. This represents a 10.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Rohit Verma also recently made the following trade(s):

• On Tuesday, February 24th, Rohit Verma acquired 100,000 shares of Alight stock. The shares were acquired at an average cost of $0.77 per share, with a total value of $77,000.00.

Alight Price Performance

Shares of ALIT stock traded down $0.02 during trading on Thursday, hitting $0.91. The company had a trading volume of 45,792,172 shares, compared to its average volume of 42,502,700. The stock’s 50-day moving average is $1.36 and its two-hundred day moving average is $2.30. The stock has a market capitalization of $488.00 million, a price-to-earnings ratio of 1.99, a price-to-earnings-growth ratio of 0.51 and a beta of 1.16. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.90. Alight, Inc. has a 52 week low of $0.65 and a 52 week high of $6.39.

Alight (NYSE:ALIT) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The company had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $654.30 million. Alight had a positive return on equity of 9.61% and a negative net margin of 136.91%. As a group, analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. DA Davidson dropped their target price on Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Bank of America began coverage on shares of Alight in a research report on Tuesday, February 17th. They set an “underperform” rating and a $1.40 price target on the stock. Needham & Company LLC cut shares of Alight from a “buy” rating to a “hold” rating in a research note on Thursday, February 19th. Finally, Citigroup cut shares of Alight from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $6.50 to $1.00 in a research report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alight presently has a consensus rating of “Hold” and a consensus price target of $3.56.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ALIT. Royal Bank of Canada boosted its position in Alight by 3.6% during the 1st quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock valued at $948,000 after buying an additional 5,525 shares during the period. AQR Capital Management LLC purchased a new position in shares of Alight in the first quarter valued at about $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alight by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock valued at $1,481,000 after acquiring an additional 10,893 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Alight by 1,776.2% during the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after acquiring an additional 10,657 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alight by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock worth $6,091,000 after purchasing an additional 66,771 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.