Alight’s (ALIT) Buy Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Alight (NYSE:ALIT) in a research note released on Wednesday morning,Benzinga reports. DA Davidson currently has a $10.00 price objective on the stock.

Several other research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Alight in a research note on Monday, March 24th. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of Alight in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and a consensus price target of $10.19.

Alight Stock Down 4.9 %

Shares of NYSE:ALIT opened at $5.91 on Wednesday. The firm has a market cap of $3.21 billion, a P/E ratio of -19.68 and a beta of 0.94. Alight has a 52-week low of $5.87 and a 52-week high of $9.92. The business’s 50 day simple moving average is $6.56 and its two-hundred day simple moving average is $7.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

Alight (NYSE:ALIT) last posted its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. As a group, research analysts forecast that Alight will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s payout ratio is presently -53.33%.

Insider Buying and Selling

In other Alight news, Director Robert A. Schriesheim bought 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the purchase, the director now directly owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 125,092 shares of company stock worth $807,755. 5.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Alight

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after buying an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Alight in the 4th quarter valued at about $50,000. Sandia Investment Management LP purchased a new position in Alight in the fourth quarter worth about $69,000. Finally, Headlands Technologies LLC bought a new stake in Alight during the fourth quarter worth approximately $84,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.