Alight, Inc. (NYSE:ALIT) Given Average Rating of “Moderate Buy” by Brokerages

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

A number of research firms have issued reports on ALIT. Canaccord Genuity Group upped their target price on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp upped their target price on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Alight in a research report on Friday, February 21st.

Institutional Trading of Alight

A number of institutional investors and hedge funds have recently modified their holdings of ALIT. Blue Trust Inc. increased its stake in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after acquiring an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after acquiring an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Alight during the 4th quarter worth approximately $50,000. Sandia Investment Management LP bought a new stake in Alight during the 4th quarter worth approximately $69,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Alight during the 3rd quarter worth approximately $74,000. 96.74% of the stock is owned by institutional investors.

Alight Stock Performance

Alight stock opened at $6.99 on Wednesday. The stock has a 50-day simple moving average of $6.80 and a 200 day simple moving average of $7.15. The company has a quick ratio of 1.30, a current 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 market capitalization of $3.79 billion, a price-to-earnings ratio of -23.28 and a beta of 0.94.

Alight (NYSE:ALIT) last released its quarterly earnings results 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 negative net margin of 5.53% and a positive return on equity of 5.42%. The business had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. On average, research analysts anticipate that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.29%. Alight’s dividend payout ratio (DPR) is presently -53.33%.

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.