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

Alight, Inc. (NYSE:ALIT) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $10.61.

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their target price 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. KeyCorp upped their price objective 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. Finally, Needham & Company LLC dropped their price objective on Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, January 9th.

Alight Stock Down 1.0 %

NYSE:ALIT opened at $6.84 on Friday. The company has a quick ratio of 1.30, a current 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’s fifty day simple moving average is $7.09 and its 200-day simple moving average is $7.21. The firm has a market capitalization of $3.72 billion, a P/E ratio of -14.26 and a beta of 0.95.

Alight (NYSE:ALIT) last issued its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $555.00 million for the quarter, compared to analysts’ expectations 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 was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 earnings per share. Equities research analysts expect that Alight will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

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

Insider Transactions at Alight

In other news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total value of $2,000,000.00. Following the sale, the president now owns 852,694 shares of the company’s stock, valued at $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gregory A. George sold 84,929 shares of the stock in a transaction 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 $1,697,285.20. The trade was a 27.55 % 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 three months. Company insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

Several institutional investors and hedge funds have recently bought and sold shares of ALIT. Venturi Wealth Management LLC bought a new position in shares of Alight in the 4th quarter valued at about $50,000. Kinney Asset Management LLC raised its stake in Alight by 4.0% in the fourth quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company’s stock valued at $44,963,000 after buying an additional 250,000 shares during the period. Blue Trust Inc. raised 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 during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Alight during the 4th quarter worth approximately $10,853,000. Finally, Entropy Technologies LP acquired a new position in shares of Alight during the 4th quarter worth approximately $107,000. 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.