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

Alight, Inc. (NYSE:ALIT) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $10.19.

Several analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Monday, March 24th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Alight in a report on Tuesday, March 25th. Finally, DA Davidson reiterated a “buy” rating and set a $10.00 price objective on shares of Alight in a research note on Wednesday.

Insider Transactions at Alight

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the transaction, the director now directly owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the 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 acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 125,092 shares of company stock valued at $807,755. Insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALIT. Blue Trust Inc. raised its position in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after acquiring an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after buying an additional 1,996 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Alight in the 4th quarter worth about $50,000. Oppenheimer & Co. Inc. purchased a new position in Alight during the 3rd quarter valued at about $74,000. Finally, Sandia Investment Management LP purchased a new position in Alight during the 4th quarter valued at about $69,000. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Performance

Shares of ALIT stock opened at $5.91 on Friday. Alight has a 52 week low of $5.87 and a 52 week high of $9.92. The firm’s 50-day simple moving average is $6.56 and its two-hundred day simple moving average is $7.01. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -19.68 and a beta of 0.94. 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 announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. As a group, equities analysts forecast that Alight will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio is currently -53.33%.

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.