Alight’s (ALIT) Buy Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Alight (NYSE:ALIT) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

ALIT has been the topic of several other research reports. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Alight in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Alight in a research note on Monday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.19.

Alight Price Performance

Shares of NYSE:ALIT opened at $6.19 on Wednesday. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -20.63 and a beta of 0.94. The business has a 50 day moving average price of $6.59 and a 200 day moving average price of $7.02. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight has a twelve month low of $5.87 and a twelve month high of $10.04.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Research analysts predict that Alight will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio is -53.33%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALIT. Norges Bank bought a new position in Alight in the 4th quarter worth approximately $35,045,000. Starboard Value LP increased its stake in shares of Alight by 8.8% in the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock valued at $326,818,000 after buying an additional 3,833,000 shares during the period. Cooper Creek Partners Management LLC raised its position in shares of Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock worth $122,514,000 after acquiring an additional 3,322,705 shares during the last quarter. Rubric Capital Management LP lifted its stake in shares of Alight by 38.3% during the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock valued at $86,185,000 after acquiring an additional 3,223,617 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Alight by 214.0% in the fourth quarter. American Century Companies Inc. now owns 4,600,961 shares of the company’s stock valued at $31,839,000 after acquiring an additional 3,135,846 shares during the last quarter. 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.