Alight, Inc. (NYSE:ALIT) Receives Average Recommendation of “Moderate Buy” from Analysts

Alight, Inc. (NYSE:ALIT) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.61.

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group raised their price objective on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp raised their price target on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC cut their price target on shares of Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, January 9th.

Alight Price Performance

Shares of ALIT stock opened at $6.64 on Tuesday. Alight has a twelve month low of $6.15 and a twelve month high of $10.38. The company has a market capitalization of $3.61 billion, a PE ratio of -13.83 and a beta of 0.95. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $7.33 and a 200-day simple moving average of $7.23.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $538.39 million. During the same period in the prior year, the company posted $0.07 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts anticipate that Alight will post 0.47 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 2nd.

Insider Activity

In related news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $7.60, for a total value of $645,460.40. Following the sale, the insider now directly owns 223,327 shares in the company, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the transaction, the director now owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alight

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Alight by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after buying an additional 3,342,413 shares in the last quarter. State Street Corp grew its stake in shares of Alight by 1.2% in the third quarter. State Street Corp now owns 11,905,766 shares of the company’s stock worth $88,103,000 after purchasing an additional 141,828 shares in the last quarter. Rubric Capital Management LP grew its stake in shares of Alight by 38.3% in the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after purchasing an additional 3,223,617 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alight by 0.8% during the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock valued at $74,521,000 after purchasing an additional 77,948 shares during the period. Finally, River Road Asset Management LLC raised its stake in shares of Alight by 2.9% during the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after purchasing an additional 286,133 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

About Alight

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.