Alight, Inc. (NYSE:ALIT) Receives $10.31 Average Target Price from Analysts

Alight, Inc. (NYSE:ALIT) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $10.44.

Several research analysts have commented on ALIT shares. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Alight in a report on Monday. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Alight in a research note on Tuesday.

Alight Price Performance

Alight stock opened at $6.19 on Friday. The stock has a market cap of $3.36 billion, a P/E ratio of -20.63 and a beta of 0.94. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $6.60 and its two-hundred day moving average price is $7.03. Alight has a 52 week low of $5.87 and a 52 week high of $10.04.

Alight (NYSE:ALIT) last released its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The company had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. On average, equities analysts predict that Alight will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s payout ratio is currently -53.33%.

Insiders Place Their Bets

In related news, Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert A. Schriesheim acquired 22,092 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the purchase, the director now owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 125,092 shares of company stock valued at $807,755. Insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

Several hedge funds have recently modified their holdings of the stock. Walleye Capital LLC purchased a new position in shares of Alight in the third quarter valued at $5,063,000. JPMorgan Chase & Co. grew its stake in shares of Alight by 202.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock worth $13,794,000 after buying an additional 1,248,465 shares in the last quarter. Wexford Capital LP grew its stake in shares of Alight by 320.2% in the 3rd quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock worth $814,000 after buying an additional 83,822 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Alight in the 3rd quarter worth about $1,834,000. Finally, Weiss Asset Management LP purchased a new stake in shares of Alight during the 3rd quarter valued at about $1,512,000. Hedge funds and other 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.