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

Alight, Inc. (NYSE:ALIT) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $10.61.

Several research firms have recently issued reports on ALIT. KeyCorp boosted their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Needham & Company LLC dropped their price objective on shares of Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. Finally, Canaccord Genuity Group increased their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Insider Transactions at Alight

In other news, Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares in the company, valued at $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 approximately $6,821,552. The trade was a 22.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,334,929 shares of company stock worth $43,895,460 over the last 90 days. 5.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Alight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALIT. Rubric Capital Management LP increased its holdings in Alight by 38.3% in the third quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock valued at $86,185,000 after purchasing an additional 3,223,617 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alight by 94.6% in the fourth quarter. Bank of New York Mellon Corp now owns 4,155,792 shares of the company’s stock worth $28,758,000 after acquiring an additional 2,020,648 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Alight in the fourth quarter worth about $10,853,000. JPMorgan Chase & Co. increased its holdings in shares of Alight by 202.8% in the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock worth $13,794,000 after acquiring an additional 1,248,465 shares in the last quarter. Finally, Highland Peak Capital LLC bought a new stake in shares of Alight in the third quarter worth about $5,315,000. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 0.8 %

Alight stock opened at $6.61 on Friday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -13.76 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The firm has a fifty day moving average price of $7.01 and a two-hundred day moving average price of $7.20.

Alight (NYSE:ALIT) last released its 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 during 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 business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, analysts forecast that Alight will post 0.47 earnings per share for the current year.

Alight Announces Dividend

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

Alight Company Profile

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.