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

Shares of Alight, Inc. (NYSE:ALIT) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $10.19.

A number of research firms have commented on ALIT. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Monday, March 24th. Wedbush reiterated an “outperform” rating and issued a $11.00 target price on shares of Alight in a report on Tuesday, March 25th. Finally, DA Davidson reissued a “buy” rating and set a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th.

Alight Stock Down 3.4 %

Shares of NYSE ALIT opened at $4.82 on Thursday. The company has a 50 day simple moving average of $5.96 and a 200 day simple moving average of $6.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight has a 1 year low of $4.49 and a 1 year high of $9.45. The firm has a market cap of $2.62 billion, a PE ratio of -16.07 and a beta of 0.97.

Alight (NYSE:ALIT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. On average, research analysts forecast 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 paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio (DPR) is presently -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 shares were bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now directly owns 22,092 shares of the company’s stock, valued at $150,004.68. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $6.39 per share, with a total value of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 125,092 shares of company stock valued at $807,755 in the last quarter. 5.33% of the stock is currently owned by company insiders.

Institutional Trading of Alight

Several hedge funds have recently bought and sold shares of ALIT. Norges Bank acquired a new position in shares of Alight during the fourth quarter valued at about $35,045,000. Starboard Value LP increased its holdings in Alight by 8.8% during the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock worth $326,818,000 after purchasing an additional 3,833,000 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in shares of Alight by 23.1% in the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock worth $122,514,000 after purchasing an additional 3,322,705 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Alight by 214.0% in the fourth quarter. American Century Companies Inc. now owns 4,600,961 shares of the company’s stock valued at $31,839,000 after purchasing an additional 3,135,846 shares in the last quarter. Finally, J. Goldman & Co LP boosted its position in shares of Alight by 105.3% during the fourth quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company’s stock valued at $39,960,000 after buying an additional 2,961,443 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.