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

Alight, Inc. (NYSE:ALIT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nine brokerages that are presently covering the firm, Marketbeat.com 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 twelve-month price target among brokerages that have covered the stock in the last year is $10.83.

A number of analysts recently weighed in on ALIT shares. Needham & Company LLC increased their price target on shares of Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price target on Alight from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut Alight from an "overweight" rating to a "neutral" rating and set a $8.00 price target on the stock. in a research report on Tuesday, August 20th. Citigroup decreased their price objective on Alight from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. Finally, KeyCorp boosted their target price on Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th.

Insider Activity at Alight

In other Alight news, President Gregory R. Goff sold 250,000 shares of the business's stock in a transaction on 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 in the company, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William P. Foley II sold 5,000,000 shares of the firm's stock in a transaction 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 approximately $7,287,414.75. This represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,334,929 shares of company stock worth $43,895,460 over the last three months. 5.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alight

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its holdings in Alight by 65.5% during 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 last quarter. Ingalls & Snyder LLC increased its position in Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company's stock worth $95,000 after purchasing an additional 2,235 shares in the last quarter. Amalgamated Bank increased its position in Alight by 16.2% during the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company's stock worth $121,000 after purchasing an additional 2,289 shares in the last quarter. KBC Group NV raised its stake in Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company's stock valued at $89,000 after purchasing an additional 2,331 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company's stock valued at $55,000 after purchasing an additional 2,961 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Stock Performance

Shares of ALIT traded down $0.05 during midday trading on Friday, reaching $7.16. 4,183,588 shares of the stock were exchanged, compared to its average volume of 5,783,787. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -14.91 and a beta of 0.92. 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 twelve month low of $6.15 and a twelve month high of $10.38. The business's 50-day moving average price is $7.46 and its 200 day moving average price is $7.33.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The firm's revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, sell-side analysts expect that Alight will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a -- dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

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.