A company insider recently bought 10,000 shares of Alight Inc. [ALIT]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alight Inc. shares valued at $95,389 were purchased by Massey Richard N on Apr 01. At $9.54 per share, Massey Richard N acquired 10,000 shares. The insider’s holdings grew to 394,387 shares worth approximately $2.86 million following the completion of this transaction.


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Also, FOLEY WILLIAM P II sold 189,329 shares, netting a total of over 1,897,077 in proceeds. Following the sale of shares at $10.02 each, the insider now holds 12,874,773 shares.

Before that, FOLEY WILLIAM P II had sold 302,305 shares from its account. In a trade valued at $3,077,465, the Director traded Alight Inc. shares for $10.18 each. Upon closing the transaction, the insider’s holdings decreased to 302,305 shares, worth approximately $94.71 million.

As published in their initiating research note from KeyBanc Capital Markets on September 16, 2022, Alight Inc. [ALIT] has been an Overweight and the price target has been revised to $15. This represents a 51.67% premium over Thursday’s closing price. Analysts at JP Morgan started covering the stock with ‘”an Overweight”‘ outlook in a report released in early August. As of February 08, 2022, Stephens has initiated its “an Overweight” rating for ALIT. Earlier on August 16, 2021, Credit Suisse initiated its rating. Their recommendation was “an Outperform” for ALIT stock.

Analyzing ALIT’s Price Performance

On Thursday, Alight Inc. [NYSE: ALIT] plunged -7.88% to $7.25. The stock’s lowest price that day was $7.08, but it reached a high of $7.81 in the same session. During the last five days, there has been a drop of approximately -6.93%. Over the course of the year, Alight Inc. shares have dropped approximately -32.93%. Shares of the company reached a 52-week high of $11.10 on 02/16/22 and a 52-week low of $6.31 on 06/30/22. A 50-day SMA is recorded $7.86, while a 200-day SMA reached $8.79. Nevertheless, trading volume fell to 2.01 million shares from 2.84 million shares the previous day.

Support And Resistance Levels for Alight Inc. (ALIT)

According to the 24-hour chart, there is a support level at 6.95, which, if violated, would cause prices to drop to 6.65. In the upper region, resistance lies at 7.68. The next price resistance is at 8.11. RSI (Relative Strength Index) is 36.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 87.22%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Alight Inc. subject to short interest?

Stocks of Alight Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 9.07 million shares to 16.79 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.72 million shares. A jump of 54.02% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.46 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.46.

Which companies own the most shares of Alight Inc. (ALIT)?

According to GIC Pte Ltd. filings, the company currently owns 33,695,209 shares, which is about 7.24% of the total ALIT shares outstanding. With the completion of the buy transaction, FPR Partners LLC’s stake is now worth $236,226,325. The Vanguard Group, Inc. acquire a 8.95% interest valued at $201.5 million while BlackRock Fund Advisors purchased a 15,331,359 stake. A total of 4,842,607 shares of Alight Inc. were bought by ArrowMark Colorado Holdings LLC during the quarter, and 0 by Fidelity National Financial, Inc. In its current portfolio, Davenport & Co. LLC holds 14,519,558 shares valued at $114.41 million.

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