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

Shares of Alight, Inc. (NYSE:ALITGet Free Report) have been given an average rating of “Moderate Buy” by the nine analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $10.61.

Several equities analysts have commented on the company. Canaccord Genuity Group increased their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp lifted their target price on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC decreased their price target on shares of Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday.

View Our Latest Analysis on ALIT

Alight Stock Down 1.7 %

ALIT stock opened at $6.53 on Tuesday. The firm has a 50-day moving average price of $7.33 and a 200-day moving average price of $7.24. Alight has a 12 month low of $6.15 and a 12 month high of $10.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.55 billion, a P/E ratio of -13.60 and a beta of 0.95.

Alight (NYSE:ALITGet Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. As a group, equities research analysts anticipate that Alight will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

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

Insiders Place Their Bets

In other news, insider Gregory A. George sold 84,929 shares of the firm’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 completion of the sale, the insider now owns 223,327 shares of the company’s stock, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $2,000,000.00. Following the transaction, the president now owns 852,694 shares in the company, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,334,929 shares of company stock worth $43,895,460. Company insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after acquiring an additional 3,342,413 shares during the period. State Street Corp increased its stake in Alight by 1.2% during the 3rd quarter. State Street Corp now owns 11,905,766 shares of the company’s stock valued at $88,103,000 after purchasing an additional 141,828 shares in the last quarter. Rubric Capital Management LP raised its holdings in Alight by 38.3% during the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after buying an additional 3,223,617 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Alight by 0.8% in the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock valued at $74,521,000 after buying an additional 77,948 shares in the last quarter. Finally, River Road Asset Management LLC grew its holdings in shares of Alight by 2.9% during the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after buying an additional 286,133 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

About Alight

(Get Free Report

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.

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Analyst Recommendations for Alight (NYSE:ALIT)

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