Alight, Inc. (NYSE:ALIT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Alight, Inc. (NYSE:ALIT) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $10.31.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Alight in a research report on Friday, February 21st.

Alight Trading Up 0.7 %

NYSE ALIT opened at $6.07 on Friday. Alight has a 12 month low of $5.87 and a 12 month high of $10.04. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $6.62 and a 200-day moving average of $7.04. The company has a market cap of $3.29 billion, a PE ratio of -20.22 and a beta of 0.94.

Alight (NYSE:ALIT) last announced its quarterly 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). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. On average, equities research analysts anticipate that Alight will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio is -53.33%.

Insiders Place Their Bets

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 125,092 shares of company stock worth $807,755 in the last quarter. 5.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alight

A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its position in Alight by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 399,862 shares of the company’s stock worth $2,767,000 after purchasing an additional 14,657 shares during the last quarter. Palogic Value Management L.P. increased its stake in shares of Alight by 13.5% in the fourth quarter. Palogic Value Management L.P. now owns 420,000 shares of the company’s stock valued at $2,906,000 after buying an additional 50,000 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Alight during the fourth quarter worth about $893,000. Public Employees Retirement System of Ohio lifted its stake in shares of Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock worth $49,000 after acquiring an additional 2,059 shares during the period. Finally, Alpine Global Management LLC boosted its holdings in Alight by 16.7% in the fourth quarter. Alpine Global Management LLC now owns 175,000 shares of the company’s stock valued at $1,211,000 after acquiring an additional 25,000 shares during the last quarter. Institutional investors and hedge funds 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.