Alight, Inc. (NYSE:ALIT) Receives $10.19 Average Target Price from Analysts

Shares of Alight, Inc. (NYSE:ALIT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.19.

Several brokerages recently issued reports on ALIT. Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of Alight in a research note on Tuesday, March 25th. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Finally, DA Davidson restated a "buy" rating and set a $10.00 target price on shares of Alight in a research note on Wednesday, March 26th.

Alight Stock Down 0.7 %

Shares of ALIT stock traded down $0.04 on Thursday, hitting $5.00. 10,443,425 shares of the stock were exchanged, compared to its average volume of 6,096,277. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight has a fifty-two week low of $4.49 and a fifty-two week high of $9.45. The firm has a market capitalization of $2.71 billion, a P/E ratio of -16.65 and a beta of 0.97. The business has a 50-day moving average of $6.00 and a 200 day moving average of $6.76.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share 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 for the quarter, compared to analyst estimates of $675.66 million. Equities analysts anticipate that Alight will post 0.54 EPS for the current year.

Alight Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 3.20%. Alight's dividend payout ratio (DPR) is presently -53.33%.

Insiders Place Their Bets

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now directly owns 22,092 shares of the company's stock, valued at $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $6.39 per share, with a total value of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, 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 bought and sold shares of the business. Norges Bank purchased a new position in Alight during the 4th quarter worth $35,045,000. Starboard Value LP lifted its holdings in Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock worth $326,818,000 after acquiring an additional 3,833,000 shares during the period. Cooper Creek Partners Management LLC boosted its position in Alight by 23.1% in the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock worth $122,514,000 after purchasing an additional 3,322,705 shares during the last quarter. American Century Companies Inc. grew its stake in Alight by 214.0% in the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company's stock valued at $31,839,000 after purchasing an additional 3,135,846 shares during the period. Finally, J. Goldman & Co LP grew its stake in Alight by 105.3% in the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock valued at $39,960,000 after purchasing an additional 2,961,443 shares during the period. Institutional investors own 96.74% of the company's stock.

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.