Alight (NYSE:ALIT) Shares Gap Up After Dividend Announcement

Alight, Inc. (NYSE:ALIT)’s share price gapped up prior to trading on Tuesday following a dividend announcement from the company. The stock had previously closed at $7.46, but opened at $8.60. Alight shares last traded at $8.81, with a volume of 2,663,187 shares changing hands.

The newly announced dividend which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALIT shares. Needham & Company LLC boosted their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush dropped their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. KeyCorp lifted their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group increased their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Alight Stock Down 0.4 %

The firm has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $7.42. The company has a market capitalization of $4.60 billion, a PE ratio of -17.55 and a beta of 0.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.53%. The business had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. Equities research analysts anticipate that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Alight

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Alight during the third quarter worth $74,000. KBC Group NV lifted its stake in Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after purchasing an additional 2,331 shares during the last quarter. FMR LLC boosted its holdings in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares during the period. Finally, Motco acquired a new stake in shares of Alight during the first quarter worth $95,000. Institutional investors own 96.74% of the company’s stock.

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.