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

Alight, Inc. (NYSE:ALIT) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $10.83.

A number of brokerages recently issued reports on ALIT. KeyCorp increased their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group boosted their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC lifted their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Insider Activity at Alight

In other Alight news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Gregory R. Goff sold 250,000 shares of Alight 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 transaction, the president now owns 852,694 shares in the company, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,334,929 shares of company stock worth $43,895,460 over the last quarter. Insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its stake 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 purchasing an additional 1,996 shares during the period. Amalgamated Bank grew its position in Alight by 16.2% in the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after acquiring an additional 2,289 shares in the last quarter. KBC Group NV grew its stake in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after purchasing an additional 2,331 shares in the last quarter. FMR LLC increased its holdings in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after buying an additional 3,689 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. increased its holdings in shares of Alight by 7.4% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 57,750 shares of the company’s stock valued at $426,000 after acquiring an additional 4,000 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Price Performance

Shares of ALIT opened at $6.90 on Tuesday. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The firm has a market capitalization of $3.75 billion, a PE ratio of -14.37 and a beta of 0.95. The company’s 50-day moving average is $7.36 and its 200-day moving average is $7.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

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

Alight Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.04 dividend. The ex-dividend date was Monday, December 2nd.

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.