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

Alight, Inc. (NYSE:ALIT - Get Free Report) has earned an average rating of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $10.95.

Several research firms have issued reports on ALIT. JPMorgan Chase & Co. cut Alight from an "overweight" rating to a "neutral" rating and set a $8.00 target price on the stock. in a research report on Tuesday, August 20th. Citigroup dropped their price objective on Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. KeyCorp upped their price target on shares of Alight from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Finally, Wedbush cut their price target on shares of Alight from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Thursday, August 8th.

Alight Stock Performance

Shares of Alight stock traded down $0.06 during trading hours on Monday, hitting $7.67. 6,640,229 shares of the company were exchanged, compared to its average volume of 5,768,606. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $7.28 and a 200-day moving average of $7.38. Alight has a 1 year low of $6.15 and a 1 year high of $10.38. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -15.98 and a beta of 0.87.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates 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 quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. As a group, analysts expect that Alight will post 0.42 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Insider Buying and Selling at Alight

In other news, Director William P. Foley II sold 5,000,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now owns 883,323 shares of the company's stock, valued at $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gregory A. George sold 84,929 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the transaction, the insider now directly owns 223,327 shares in the company, valued at $1,697,285.20. The trade was a 27.55 % decrease in their position. The disclosure for this sale can be found here. 5.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Alight

Several institutional investors have recently added to or reduced their stakes in ALIT. Public Employees Retirement System of Ohio grew its holdings in Alight by 65.5% in 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. Nisa Investment Advisors LLC increased its position in Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company's stock worth $55,000 after purchasing an additional 2,961 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Alight during the third quarter worth approximately $74,000. Soros Fund Management LLC acquired a new position in shares of Alight in the 3rd quarter valued at $89,000. Finally, FMR LLC grew its stake in shares of Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company's stock valued at $89,000 after buying an additional 3,689 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.