Analysts Set Alight, Inc. (NYSE:ALIT) Target Price at $10.61

Shares of Alight, Inc. (NYSE:ALIT) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.61.

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

Alight Trading Down 3.6 %

NYSE ALIT opened at $6.60 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight has a 12 month low of $6.15 and a 12 month high of $10.38. The stock has a 50-day simple moving average of $7.07 and a 200 day simple moving average of $7.20. The company has a market capitalization of $3.59 billion, a PE ratio of -13.76 and a beta of 0.94.

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

Alight Announces Dividend

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

Insider Activity at Alight

In other Alight news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the sale, the president now directly owns 852,694 shares of the company’s stock, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,334,929 shares of company stock valued at $43,895,460 over the last quarter. 5.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after acquiring an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Alight in the fourth quarter valued at approximately $50,000. Oppenheimer & Co. Inc. bought a new position in shares of Alight during the third quarter valued at about $74,000. Finally, Nisa Investment Advisors LLC lifted its stake in Alight by 54.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company’s stock worth $85,000 after acquiring an additional 4,049 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.