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

Shares of Alight, Inc. (NYSE:ALIT) have been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $10.95.

Several research analysts have recently commented on ALIT shares. JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. KeyCorp boosted their price target on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Needham & Company LLC boosted their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Wedbush reduced their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th.

Insider Activity

In related news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the sale, the director now directly owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the transaction, the insider now owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Alight by 65.5% during the third 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. Nisa Investment Advisors LLC boosted its position in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Alight during the 3rd quarter worth approximately $74,000. Soros Fund Management LLC acquired a new position in Alight in the 3rd quarter valued at approximately $89,000. Finally, FMR LLC lifted its holdings in shares of Alight by 44.4% during the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Performance

Shares of NYSE ALIT opened at $7.98 on Monday. The company has a current ratio of 1.30, a quick 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 stock has a 50 day moving average of $7.34 and a 200-day moving average of $7.37. The company has a market capitalization of $4.36 billion, a P/E ratio of -16.62 and a beta of 0.87.

Alight (NYSE:ALIT) last issued its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same period in the previous year, the company posted $0.07 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts predict that Alight will post 0.42 EPS for the current year.

Alight Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

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.