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

Shares of Alight, Inc. (NYSE:ALIT) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.95.

ALIT has been the topic of a number of recent research reports. Wedbush dropped their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group increased their price objective on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a report on Tuesday, August 20th. Needham & Company LLC lifted their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup decreased their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th.

Alight Stock Down 2.0 %

Shares of NYSE:ALIT opened at $7.73 on Monday. 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 has a 12 month low of $6.15 and a 12 month high of $10.38. The firm has a market cap of $4.22 billion, a P/E ratio of -16.10 and a beta of 0.87. The company’s 50-day moving average price is $7.28 and its two-hundred day moving average price is $7.39.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, research analysts forecast that Alight will post 0.42 EPS for the current fiscal 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 dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Insider Transactions at Alight

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

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. increased its position in shares of Alight by 213.9% during the 1st quarter. Sei Investments Co. now owns 252,330 shares of the company’s stock valued at $2,486,000 after purchasing an additional 171,941 shares during the last quarter. ProShare Advisors LLC lifted its stake in Alight by 8.6% in the first quarter. ProShare Advisors LLC now owns 74,491 shares of the company’s stock worth $734,000 after purchasing an additional 5,905 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Alight by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after acquiring an additional 2,842,454 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Alight during the first quarter valued at $894,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Alight in the 1st quarter worth about $4,237,000. 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.