Alight, Inc. (NYSE:ALIT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Alight, Inc. (NYSE:ALIT) has earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.61.

Several research analysts recently weighed in on ALIT shares. Needham & Company LLC reduced their target price on Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. KeyCorp boosted their price target on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, 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 report on Wednesday, November 13th.

Insiders Place Their Bets

In other Alight news, President Gregory R. Goff sold 250,000 shares of the 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 directly owns 852,694 shares of the company’s stock, valued at approximately $6,821,552. This trade represents a 22.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory A. George sold 84,929 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the transaction, the insider now directly owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Alight

Several hedge funds have recently bought and sold shares of ALIT. American Century Companies Inc. acquired a new position in shares of Alight in the 2nd quarter valued at $174,000. AQR Capital Management LLC raised its position in shares of Alight by 293.6% in the second quarter. AQR Capital Management LLC now owns 99,010 shares of the company’s stock worth $731,000 after acquiring an additional 73,855 shares during the period. Algert Global LLC purchased a new stake in shares of Alight during the 2nd quarter worth about $285,000. Creative Planning grew its position in shares of Alight by 60.2% during the 2nd quarter. Creative Planning now owns 74,781 shares of the company’s stock valued at $552,000 after acquiring an additional 28,114 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Alight during the 2nd quarter valued at about $804,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Down 0.8 %

ALIT stock opened at $6.57 on Friday. The firm has a 50-day simple moving average of $6.95 and a two-hundred day simple moving average of $7.19. 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 one year low of $6.15 and a one year high of $10.38.

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

Alight Dividend Announcement

The company 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 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.