Alight (NYSE:ALIT – Free Report) had its price objective cut by Needham & Company LLC from $11.00 to $9.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
A number of other research analysts also recently commented on the stock. Canaccord Genuity Group increased their price objective 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 increased their price target 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.61.
Get Our Latest Analysis on ALIT
Alight Stock Performance
Alight (NYSE:ALIT – Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $538.39 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Alight will post 0.47 EPS for the current fiscal year.
Alight Announces Dividend
The business also recently announced a — dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 2nd.
Insiders Place Their Bets
In other Alight news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,334,929 shares of company stock worth $43,895,460. 5.33% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Alight
Several hedge funds have recently made changes to their positions in ALIT. Walleye Capital LLC acquired a new stake in Alight during the 3rd quarter valued at $5,063,000. Highland Peak Capital LLC acquired a new position in Alight during the third quarter valued at $5,315,000. River Road Asset Management LLC lifted its stake in Alight by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock worth $73,913,000 after acquiring an additional 286,133 shares in the last quarter. Wexford Capital LP boosted its position in Alight by 320.2% during the 3rd quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock worth $814,000 after acquiring an additional 83,822 shares during the period. Finally, Rhumbline Advisers grew its stake in Alight by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 757,020 shares of the company’s stock valued at $5,587,000 after acquiring an additional 92,235 shares in the last quarter. 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.
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