Alight (NYSE:ALIT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Alight (NYSE:ALIT) in a research report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $9.00 price objective on the stock.

A number of other equities analysts also recently commented on ALIT. Canaccord Genuity Group increased their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp increased their price target on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.61.

Alight Trading Down 1.5 %

NYSE:ALIT opened at $6.83 on Friday. The business has a fifty day moving average of $6.80 and a 200-day moving average of $7.14. 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 $6.15 and a 1 year high of $10.38.

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 analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $680.00 million for the quarter, compared to analyst estimates 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, sell-side analysts forecast that Alight will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.04 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 2.34%.

Insider Buying and Selling

In related news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the sale, the president now owns 852,694 shares in the company, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.33% of the stock is owned by insiders.

Institutional Trading of Alight

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Alight by 107.6% in 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 stake 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 worth $37,000 after purchasing an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Alight in the fourth quarter valued at $50,000. Sandia Investment Management LP bought a new stake in Alight in the 4th quarter valued at about $69,000. Finally, Oppenheimer & Co. Inc. bought a new position in Alight in the 3rd quarter worth approximately $74,000. Institutional investors own 96.74% of the company’s stock.

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.