Alight, Inc. (NYSE:ALIT) Receives $10.31 Average Price Target from Brokerages

Shares of Alight, Inc. (NYSE:ALIT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $10.19.

Several equities research analysts recently weighed in on ALIT shares. Needham & Company LLC restated a "buy" rating and set a $9.00 target price on shares of Alight in a report on Monday. DA Davidson reissued a "buy" rating and set a $10.00 price objective on shares of Alight in a research note on Wednesday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $11.00 target price on shares of Alight in a research note on Tuesday.

Alight Stock Performance

Shares of ALIT stock remained flat at $6.19 during trading hours on Friday. 5,151,813 shares of the company's stock traded hands, compared to its average volume of 6,971,088. The stock has a market capitalization of $3.36 billion, a P/E ratio of -20.63 and a beta of 0.94. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight has a 52-week low of $5.87 and a 52-week high of $10.04. The stock has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $7.03.

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Alight (NYSE:ALIT - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $680.00 million during the quarter, compared to analysts' expectations of $675.66 million. Equities analysts anticipate that Alight will post 0.54 EPS for the current year.

Alight Announces Dividend

The firm also recently declared 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 2.58%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's payout ratio is -53.33%.

Insider Buying and Selling at Alight

In other news, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the acquisition, the director now owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert A. Schriesheim bought 22,092 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the purchase, the director now owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 125,092 shares of company stock valued at $807,755. 5.33% of the stock is currently owned by company insiders.

Institutional Trading of Alight

Hedge funds and other institutional investors have recently modified their holdings of the business. Atria Investments Inc boosted its stake in Alight by 36.0% during the third quarter. Atria Investments Inc now owns 33,144 shares of the company's stock worth $245,000 after acquiring an additional 8,782 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Alight during the third quarter valued at approximately $74,000. KBC Group NV boosted its position in shares of Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company's stock worth $89,000 after purchasing an additional 2,331 shares in the last quarter. Swiss National Bank increased its position in Alight by 5.0% during the 3rd quarter. Swiss National Bank now owns 792,100 shares of the company's stock valued at $5,862,000 after buying an additional 38,000 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Alight during the third quarter valued at $795,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.