Brokerages Set Alight, Inc. (NYSE:ALIT) Price Target at $8.75

Shares of Alight, Inc. (NYSE:ALIT) have received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $8.75.

A number of analysts have commented on the stock. Needham & Company LLC reduced their target price on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group reduced their price objective on shares of Alight from $10.00 to $6.50 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. Finally, Wedbush reduced their price objective on shares of Alight from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th.

Institutional Trading of Alight

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of Alight in the first quarter worth $25,000. CWM LLC boosted its position in shares of Alight by 364.8% during the first quarter. CWM LLC now owns 5,104 shares of the company’s stock worth $30,000 after acquiring an additional 4,006 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Alight by 82.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock worth $31,000 after acquiring an additional 2,348 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after acquiring an additional 3,138 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Alight by 5,505.8% during the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company’s stock worth $46,000 after acquiring an additional 7,653 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Stock Up 1.8%

Shares of ALIT stock opened at $3.10 on Thursday. Alight has a 12 month low of $2.98 and a 12 month high of $8.93. The stock has a market cap of $1.67 billion, a P/E ratio of -1.40 and a beta of 1.02. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The company has a 50 day simple moving average of $3.60 and a two-hundred day simple moving average of $4.79.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The business had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $525.26 million. During the same period in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, research analysts expect that Alight will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 5.2%. Alight’s dividend payout ratio is -7.24%.

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.