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

Shares of Alight, Inc. (NYSE:ALIT) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $10.83.

Several equities research analysts recently commented on ALIT shares. Canaccord Genuity Group upped their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup dropped their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. 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. Needham & Company LLC boosted their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp raised their price target on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th.

Insider Activity at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now directly owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gregory A. George sold 84,929 shares of Alight 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 directly owns 223,327 shares in the company, valued at $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alight

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its holdings in shares of Alight by 9.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 119,700 shares of the company’s stock valued at $868,000 after acquiring an additional 10,800 shares in the last quarter. Geode Capital Management LLC boosted its position in Alight by 0.8% in the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock worth $74,521,000 after purchasing an additional 77,948 shares during the last quarter. Barclays PLC grew its stake in Alight by 148.2% in the 3rd quarter. Barclays PLC now owns 815,841 shares of the company’s stock valued at $6,037,000 after purchasing an additional 487,185 shares during the period. Public Employees Retirement System of Ohio grew its position in Alight by 65.5% during the third 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 during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Alight during the 3rd quarter worth approximately $588,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Price Performance

Shares of NYSE:ALIT opened at $7.06 on Friday. The company has a market capitalization of $3.83 billion, a PE ratio of -14.70 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a fifty day moving average of $7.46 and a 200-day moving average of $7.31. Alight has a one year low of $6.15 and a one year high of $10.38.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share 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%. Alight’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. As a group, equities analysts anticipate that Alight will post 0.47 EPS for the current fiscal year.

Alight Dividend Announcement

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

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.