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

Alight, Inc. (NYSE:ALIT) has earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $10.61.

Several brokerages have recently issued reports on ALIT. KeyCorp raised their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC cut their price objective on shares of Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, January 9th.

Insider Buying and Selling at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of the 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 sale, the director now owns 883,323 shares in the company, valued at $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 available through the SEC website. Also, President Gregory R. Goff sold 250,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the sale, the president now directly owns 852,694 shares in the company, valued at $6,821,552. This represents a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alight

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Alight by 1.2% in the 3rd quarter. State Street Corp now owns 11,905,766 shares of the company’s stock valued at $88,103,000 after buying an additional 141,828 shares during the period. Rubric Capital Management LP increased its position in Alight by 38.3% in the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after purchasing an additional 3,223,617 shares during the period. Geode Capital Management LLC raised 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 purchasing an additional 77,948 shares during the last quarter. River Road Asset Management LLC lifted its position in Alight by 2.9% during the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after purchasing an additional 286,133 shares during the period. Finally, Kinney Asset Management LLC boosted its stake in shares of Alight by 4.0% in the 4th quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company’s stock valued at $44,963,000 after purchasing an additional 250,000 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

NYSE ALIT opened at $6.84 on Friday. The company has a 50 day moving average price of $7.09 and a two-hundred day moving average price of $7.21. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The stock has a market capitalization of $3.72 billion, a PE ratio of -14.26 and a beta of 0.95. 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 (NYSE:ALIT) last posted its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. As a group, equities analysts predict that Alight will post 0.47 earnings per share for the current fiscal year.

Alight Dividend Announcement

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