In a recent transaction, Katie J. Rooney, an executive of Alight Inc. (NYSE:ALIT), sold a total of 5,554 shares of the company's Class A Common Stock, resulting in proceeds exceeding $53,000. The shares were sold in two separate transactions on consecutive days.
On the first day, Rooney sold 2,777 shares at a weighted average price of $9.7024, with the price ranging from $9.65 to $9.85. The following day, an identical number of shares were sold at a weighted average price of $9.4797, within a price range of $9.410 to $9.545.
These transactions were conducted under a Rule 10b5-1 trading plan, which Rooney had previously adopted for asset diversification and financial planning. This plan allows corporate insiders to set up a trading schedule for selling stocks they own, providing them with a defense against potential accusations of insider trading.
Following the sales, Rooney still holds a substantial number of shares in the company, including 2,924,537 shares of Class A Common Stock, as well as interests in Class V Common Stock, which does not represent economic interests in Alight Inc. but entitles the holder to one vote per share on matters requiring stockholder votes.
Rooney serves as the Chief Financial Officer and Chief Operating Officer of Alight Inc., a company that specializes in business services and is incorporated in Delaware. The transactions were reported in accordance with SEC regulations and provide transparency into the trading activities of corporate insiders.
InvestingPro Insights
As Alight Inc. (NYSE:ALIT) continues to navigate the market, there are several financial metrics and analyst insights that may interest investors following the recent insider trading activity. The company's market capitalization stands at approximately $5.44 billion, reflecting its overall market value. Despite a challenging period, Alight has reported a revenue growth of 8.88% over the last twelve months as of Q4 2023, indicating a capacity to increase its sales figures amidst economic fluctuations.
Investors might also note the significant price appreciation Alight's stock has experienced, with a 37.21% increase over the last six months, which could be indicative of market optimism regarding the company's future prospects. This is particularly relevant given that Alight does not pay dividends, making capital gains a primary return vehicle for shareholders.
From an earnings perspective, while Alight has not been profitable over the last twelve months, analysts predict a turnaround with expectations of net income growth this year. This is a critical factor for potential investors to consider, as future profitability could impact the stock's value. However, it's important to acknowledge that five analysts have revised their earnings estimates downwards for the upcoming period, which could signal caution about the company's immediate financial performance.
For those looking to delve deeper into Alight's financial health and future outlook, additional InvestingPro Tips are available. There are 7 more tips that could provide valuable insights into the company's performance and trajectory. To access these tips and more detailed analytics, investors can visit https://www.investing.com/pro/ALIT. Moreover, using the coupon code PRONEWS24 can secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive investment analysis toolset.
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