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

Alight, Inc. (NYSE:ALIT) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $10.83.

Several equities research analysts recently issued reports on ALIT shares. Needham & Company LLC lifted their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price objective on 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 boosted their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Insiders Place Their Bets

In other Alight news, President Gregory R. Goff sold 250,000 shares of the 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory A. George sold 84,929 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the transaction, the insider now directly owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is currently owned by company insiders.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC bought a new stake in shares of Alight in the 3rd quarter worth approximately $5,063,000. Highland Peak Capital LLC bought a new position in shares of Alight during the 3rd quarter valued at $5,315,000. Victory Capital Management Inc. increased its position in shares of Alight by 28.3% during the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after purchasing an additional 1,358,020 shares during the last quarter. River Road Asset Management LLC boosted its stake in shares of Alight by 2.9% during the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock worth $73,913,000 after acquiring an additional 286,133 shares during the last quarter. Finally, Wexford Capital LP increased its position in Alight by 320.2% in the third quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock worth $814,000 after buying an additional 83,822 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Trading Up 1.6 %

Shares of Alight stock opened at $6.90 on Tuesday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -14.37 and a beta of 0.95. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $7.36 and a 200-day simple moving average of $7.26.

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

Alight Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.04 dividend. The ex-dividend date was 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.