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

Shares of Alight, Inc. (NYSE:ALIT) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $10.83.

Several brokerages have issued reports on ALIT. Needham & Company LLC lifted their price target on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lifted their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group boosted their price target on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Alight Stock Down 1.2 %

NYSE:ALIT opened at $6.76 on Friday. The stock has a 50-day simple moving average of $7.44 and a 200 day simple moving average of $7.31. Alight has a 52-week low of $6.15 and a 52-week high of $10.38. The company has a market cap of $3.67 billion, a PE ratio of -14.08 and a beta of 0.92. 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 (NYSE:ALIT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $538.39 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The business’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts expect that Alight will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

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

Insider Activity at Alight

In related news, 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 completion of the sale, the president now directly owns 852,694 shares in the company, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William P. Foley II sold 5,000,000 shares of the business’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 completion of the sale, the director now directly owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,334,929 shares of company stock worth $43,895,460. Company insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Alight by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after purchasing an additional 3,342,413 shares during the period. State Street Corp grew its position in Alight by 1.2% during the third quarter. State Street Corp now owns 11,905,766 shares of the company’s stock worth $88,103,000 after buying an additional 141,828 shares in the last quarter. Rubric Capital Management LP increased its stake in Alight by 38.3% during the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock worth $86,185,000 after acquiring an additional 3,223,617 shares during the period. Geode Capital Management LLC raised its holdings in Alight by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock valued at $74,521,000 after acquiring an additional 77,948 shares in the last quarter. Finally, River Road Asset Management LLC lifted its position in shares of Alight by 2.9% during the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after acquiring an additional 286,133 shares during the period. 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.