Alight, Inc. (NYSE:ALIT) Receives $10.61 Average Target Price from Analysts

Alight, Inc. (NYSE:ALIT) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $10.61.

Several analysts have weighed in on ALIT shares. KeyCorp upped their target price on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Alight in a research note on Friday, February 21st. Finally, Canaccord Genuity Group raised their price objective on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Insiders Place Their Bets

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the company’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 completion of the transaction, the director now directly owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its stake in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after buying an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio raised 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 acquiring an additional 1,996 shares during the period. Venturi Wealth Management LLC bought a new stake in Alight in the 4th quarter valued at $50,000. Sandia Investment Management LP acquired a new position in Alight in the 4th quarter worth $69,000. Finally, Oppenheimer & Co. Inc. bought a new position in Alight during the 3rd quarter worth about $74,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Performance

Shares of Alight stock opened at $6.30 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a 50 day simple moving average of $6.78 and a 200 day simple moving average of $7.14. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The firm has a market cap of $3.42 billion, a P/E ratio of -20.99 and a beta of 0.94.

Alight (NYSE:ALIT) last released its earnings results on Thursday, February 20th. The company reported $0.21 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 firm had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Sell-side analysts predict that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s payout ratio is presently -53.33%.

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.