Alight, Inc. (NYSE:ALIT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Alight, Inc. (NYSE:ALIT) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $10.83.

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

Alight Stock Down 2.2 %

Shares of NYSE ALIT opened at $7.21 on Friday. 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 firm has a 50-day moving average price of $7.47 and a 200 day moving average price of $7.34. Alight has a 52 week low of $6.15 and a 52 week high of $10.38. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -15.01 and a beta of 0.92.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company 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%. Alight’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 earnings per share. Equities research analysts anticipate that Alight will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

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

Insider Activity at Alight

In other Alight news, President Gregory R. Goff sold 250,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the president now owns 852,694 shares in the company, valued at $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 available through the SEC website. Also, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,334,929 shares of company stock worth $43,895,460. Company insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Alight by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock worth $74,521,000 after buying an additional 77,948 shares during the last quarter. Barclays PLC raised its position in shares of Alight by 148.2% during the 3rd quarter. Barclays PLC now owns 815,841 shares of the company’s stock valued at $6,037,000 after acquiring an additional 487,185 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Alight by 65.5% during 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 during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Alight in the third quarter worth $588,000. Finally, Wexford Capital LP increased its stake in Alight by 320.2% during the third quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock valued at $814,000 after purchasing an additional 83,822 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.