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

Alight, Inc. (NYSE:ALIT) has received a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $10.19.

Several analysts recently commented on the stock. DA Davidson reiterated a “buy” rating and issued a $10.00 price objective on shares of Alight in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Alight in a research report on Monday. Finally, Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of Alight in a report on Tuesday.

Insider Buying and Selling at Alight

In other news, Director Richard N. Massey acquired 100,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now owns 22,092 shares of the company’s stock, valued at $150,004.68. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 125,092 shares of company stock worth $807,755. 5.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALIT. Blue Trust Inc. grew its holdings in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the period. Public Employees Retirement System of Ohio grew 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 worth $50,000. Sandia Investment Management LP purchased a new position in shares of Alight in the 4th quarter worth $69,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Alight in the third quarter valued at $74,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Performance

NYSE ALIT opened at $6.23 on Friday. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -20.75 and a beta of 0.94. The business’s 50 day moving average is $6.58 and its two-hundred day moving average is $7.02. Alight has a 12-month low of $5.87 and a 12-month high of $10.04. 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 announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. Research analysts expect that Alight will post 0.54 EPS for the current year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 2.57%. Alight’s dividend payout ratio is currently -53.33%.

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.