Brokerages Set Alight, Inc. (NYSE:ALIT) Target Price at $10.83

Shares of Alight, Inc. (NYSE:ALIT) have earned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat 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 a report on the stock in the last year is $10.83.

ALIT has been the subject of a number of research analyst reports. Citigroup lowered their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company 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 target price for the company. in a research note on Tuesday, August 20th. Canaccord Genuity Group increased their target price on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC lifted their price target on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, KeyCorp increased their price objective on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th.

Insiders Place Their Bets

In other Alight news, insider Gregory A. George sold 84,929 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the transaction, the insider now owns 223,327 shares in the company, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Gregory R. Goff sold 250,000 shares of the company’s stock in a transaction 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 completion of the sale, the president now directly owns 852,694 shares in the company, valued at approximately $6,821,552. This represents a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,334,929 shares of company stock valued at $43,895,460 in the last ninety days. 5.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alight

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after purchasing an additional 1,996 shares in the last quarter. Ingalls & Snyder LLC lifted its position in shares of Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after acquiring an additional 2,235 shares during the period. Amalgamated Bank lifted its position in shares of Alight by 16.2% during the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after acquiring an additional 2,289 shares during the period. KBC Group NV boosted its stake in Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after acquiring an additional 2,331 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Trading Down 0.7 %

Shares of Alight stock opened at $7.16 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a 50-day moving average of $7.46 and a 200-day moving average of $7.32. Alight has a 52-week low of $6.15 and a 52-week high of $10.38. The stock has a market cap of $3.89 billion, a PE ratio of -14.92 and a beta of 0.92.

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

Alight Dividend Announcement

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

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.