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

Alight, Inc. (NYSE:ALIT) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $10.95.

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

Alight Price Performance

Alight stock opened at $7.73 on Monday. The business’s 50-day simple moving average is $7.28 and its 200 day simple moving average is $7.39. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -16.10 and a beta of 0.87. The company has a quick ratio of 1.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business 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%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. As a group, research analysts anticipate that Alight will post 0.42 earnings per share for the current year.

Alight Announces Dividend

The company 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 is Monday, December 2nd.

Insider Activity

In other Alight news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the transaction, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in shares of 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 buying an additional 1,996 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after buying an additional 2,961 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Alight in the third quarter worth approximately $74,000. Soros Fund Management LLC acquired a new stake in shares of Alight in the third quarter worth $89,000. Finally, FMR LLC grew its stake in Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after acquiring an additional 3,689 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other 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.