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

Shares of Alight, Inc. (NYSE:ALIT) have received an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.61.

Several research firms have recently issued reports on ALIT. Canaccord Genuity Group raised their price objective on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp raised their price target on Alight from $10.00 to $11.00 and gave the stock an “overweight” 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 on the stock in a research report on Thursday, January 9th.

Alight Stock Performance

Shares of ALIT opened at $6.57 on Friday. The company’s fifty day moving average is $6.95 and its 200 day moving average is $7.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The firm had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. During the same period in the previous year, the firm posted $0.07 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts forecast that Alight will post 0.47 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, December 2nd.

Insider Transactions at Alight

In other Alight news, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the sale, the insider now directly owns 223,327 shares in the company, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Gregory R. Goff sold 250,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the transaction, the president now directly owns 852,694 shares in the company, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,334,929 shares of company stock worth $43,895,460. Insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

A number of hedge funds have recently added to or reduced their stakes in ALIT. Blue Trust Inc. increased its position in Alight by 107.6% during the 4th 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 period. Public Employees Retirement System of Ohio increased its holdings in Alight by 65.5% during the third 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 period. KBC Group NV raised its stake in Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares in the last quarter. Cornerstone Investment Partners LLC raised its stake in Alight by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock worth $468,000 after buying an additional 2,356 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Alight by 17.5% during the fourth quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after buying an additional 3,576 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

About Alight

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.