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

Alight, Inc. (NYSE:ALIT) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.19.

Several analysts recently issued reports on ALIT shares. Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Alight in a report on Tuesday, March 25th. DA Davidson reiterated a “buy” rating and set a $10.00 target price on shares of Alight in a report on Wednesday, March 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a report on Monday, March 24th.

Insider Buying and Selling at Alight

In related news, Director Robert A. Schriesheim bought 22,092 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard N. Massey bought 100,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the purchase, the director now owns 1,573,489 shares in the company, 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 have acquired a total of 125,092 shares of company stock valued at $807,755 in the last three months. Corporate insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently bought and sold shares of ALIT. Blue Trust Inc. increased its stake in Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after buying an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Alight during the fourth quarter worth about $50,000. GAMMA Investing LLC lifted its holdings in Alight by 5,505.8% in the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company’s stock worth $46,000 after acquiring an additional 7,653 shares during the last quarter. Finally, Sandia Investment Management LP bought a new position in Alight in the fourth quarter worth about $69,000. 96.74% of the stock is owned by institutional investors.

Alight Price Performance

ALIT stock opened at $5.04 on Thursday. The company has a market cap of $2.74 billion, a PE ratio of -16.80 and a beta of 0.97. 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 price of $6.07 and a two-hundred day moving average price of $6.80. Alight has a 12-month low of $4.49 and a 12-month high of $9.45.

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

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 3.17%. Alight’s dividend payout ratio is presently -53.33%.

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.