Analysts Set Alight, Inc. (NYSE:ALIT) Target Price at $10.83

Alight, Inc. (NYSE:ALIT) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $10.61.

A number of research firms recently commented on ALIT. KeyCorp increased their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Needham & Company LLC decreased their price target on shares of Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, January 9th. Finally, Canaccord Genuity Group boosted their price objective 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.

Insider Activity at Alight

In other news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the transaction, the insider now directly owns 223,327 shares of the company’s stock, valued at $1,697,285.20. The trade was a 27.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $2,000,000.00. Following the sale, the president now owns 852,694 shares of the company’s stock, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,334,929 shares of company stock worth $43,895,460. 5.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its position in shares of Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after acquiring an additional 1,996 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Alight in the 3rd quarter valued at $74,000. Nisa Investment Advisors LLC raised its position in Alight by 54.0% in the third 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 period. Soros Fund Management LLC purchased a new position in Alight in the third quarter valued at about $89,000. Finally, FMR LLC lifted its stake in shares of Alight by 44.4% during the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Performance

Shares of ALIT opened at $6.64 on Tuesday. The company has a 50-day moving average of $7.33 and a two-hundred day moving average of $7.23. The stock has a market cap of $3.61 billion, a P/E ratio of -13.83 and a beta of 0.95. 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.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. As a group, research analysts predict that Alight will post 0.47 EPS for the current fiscal year.

Alight Dividend Announcement

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.

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.