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

Alight, Inc. (NYSE:ALIT) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.95.

Several research analysts have commented on ALIT shares. Citigroup cut their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, August 20th. Wedbush dropped their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC boosted their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group boosted 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.

Alight Stock Up 1.3 %

Shares of ALIT opened at $7.98 on Monday. The company has a market capitalization of $4.36 billion, a PE ratio of -16.62 and a beta of 0.87. Alight has a 12 month low of $6.15 and a 12 month high of $10.38. The stock’s 50-day moving average price is $7.34 and its two-hundred day moving average price is $7.37. 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 (NYSE:ALIT) last announced its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting 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 business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. On average, analysts anticipate that Alight will post 0.42 EPS for the current year.

Alight Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Insider Activity at Alight

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

Hedge Funds Weigh In On Alight

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its holdings in shares of Alight by 65.5% in the third 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 in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after acquiring an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Alight in the third quarter valued at approximately $74,000. KBC Group NV grew its holdings in shares of Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares in the last quarter. Finally, Soros Fund Management LLC bought a new position in shares of Alight in the third quarter valued at approximately $89,000. 96.74% of the stock is owned by institutional investors.

Alight Company Profile

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.