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

Shares of Alight, Inc. (NYSE:ALIT) have received an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $10.61.

Several analysts recently issued reports on the company. Canaccord Genuity Group increased their price target on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp raised their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC lowered their target price on Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, January 9th.

Insiders Place Their Bets

In other Alight news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the transaction, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Gregory R. Goff sold 250,000 shares of Alight stock in a transaction that occurred 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 transaction, the president now owns 852,694 shares in the company, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,334,929 shares of company stock worth $43,895,460. 5.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Alight

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in shares of Alight by 107.6% during the 4th 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. Public Employees Retirement System of Ohio boosted its stake 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 during the period. Venturi Wealth Management LLC acquired a new stake in shares of Alight during the 4th quarter valued at $50,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Alight in the 3rd quarter valued at $74,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Alight by 54.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company’s stock valued at $85,000 after purchasing an additional 4,049 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Price Performance

Shares of NYSE:ALIT opened at $6.61 on Friday. The business’s fifty day moving average price is $7.01 and its two-hundred day moving average price is $7.20. The stock has a market cap of $3.59 billion, a PE ratio of -13.76 and a beta of 0.94. 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 has a one year low of $6.15 and a one year high of $10.38.

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

Alight Dividend Announcement

The firm also recently declared a — dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.04 dividend. 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.