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

Alight, Inc. (NYSE:ALIT) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.83.

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

Alight Stock Performance

Shares of ALIT stock opened at $7.21 on Friday. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The business has a 50 day simple moving average of $7.47 and a 200 day simple moving average of $7.34. 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 market capitalization of $3.91 billion, a price-to-earnings ratio of -15.01 and a beta of 0.92.

Alight (NYSE:ALIT) last released its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. On average, equities research analysts anticipate that Alight will post 0.47 EPS for the current year.

Alight Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Insiders Place Their Bets

In other news, President Gregory R. Goff sold 250,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the completion of the sale, the president now directly owns 852,694 shares of the company’s stock, valued at approximately $6,821,552. This represents a 22.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the transaction, the director now directly owns 883,323 shares in the company, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,334,929 shares of company stock valued at $43,895,460 over the last 90 days. 5.33% of the stock is currently owned by company insiders.

Institutional Trading of Alight

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its stake in Alight by 65.5% in the third 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 during the period. Nisa Investment Advisors LLC lifted its position in shares of 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. acquired a new stake in Alight in the 3rd quarter valued at $74,000. KBC Group NV grew its position in Alight by 24.0% in the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares during the period. Finally, Soros Fund Management LLC acquired a new position in Alight during the third quarter worth $89,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.