Alight’s (ALIT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alight (NYSE:ALIT) in a research report report published on Friday morning,Benzinga reports. They currently have a $9.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group upped their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp upped their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.61.

Alight Trading Down 1.5 %

NYSE ALIT opened at $6.83 on Friday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -22.75 and a beta of 0.94. The stock’s 50 day moving average price is $6.80 and its two-hundred day moving average price is $7.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight has a 52 week low of $6.15 and a 52 week high of $10.38.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The company had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. As a group, analysts anticipate that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, March 3rd.

Insider Activity at Alight

In related news, President Gregory R. Goff sold 250,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the sale, the president now owns 852,694 shares in the company, valued at approximately $6,821,552. This represents a 22.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Starboard Value LP grew its holdings in Alight by 8.8% in the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock valued at $326,818,000 after buying an additional 3,833,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alight by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock valued at $282,898,000 after buying an additional 292,911 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in Alight by 13.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company’s stock valued at $168,130,000 after buying an additional 2,901,108 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Alight by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company’s stock valued at $157,215,000 after buying an additional 1,153,963 shares in the last quarter. Finally, Cooper Creek Partners Management LLC grew its holdings in Alight by 23.1% in the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock valued at $122,514,000 after buying an additional 3,322,705 shares in the last quarter. 96.74% of the stock is 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.