Alight’s (ALIT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Alight (NYSE:ALIT) in a research note released on Monday morning,Benzinga reports. They currently have a $9.00 price target on the stock.

Alight Price Performance

Shares of ALIT stock opened at $6.19 on Monday. The stock’s 50 day simple moving average is $6.59 and its 200 day simple moving average is $7.02. Alight has a twelve month low of $5.87 and a twelve month high of $10.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -20.63 and a beta of 0.94.

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

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.58%. The ex-dividend date was Monday, March 3rd. Alight’s dividend payout ratio is currently -53.33%.

Insider Transactions at Alight

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $6.39 per share, with a total value of $639,000.00. Following the purchase, the director now owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. This trade represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 125,092 shares of company stock worth $807,755 over the last three months. 5.33% of the stock is currently owned by insiders.

Institutional Trading of Alight

A number of institutional investors and hedge funds have recently modified their holdings of ALIT. Blue Trust Inc. boosted its stake in Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after buying an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio boosted 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 acquiring an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Alight in the fourth quarter valued at about $50,000. Sandia Investment Management LP bought a new stake in Alight in the fourth quarter valued at about $69,000. Finally, Soros Fund Management LLC acquired a new position in Alight in the third quarter worth about $89,000. 96.74% of the stock is currently owned by 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.