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

Alight, Inc. (NYSE:ALIT - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.83.

A number of equities analysts have issued reports on the company. KeyCorp increased their target price on Alight from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their target price on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC boosted their target price on Alight from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th.

Insider Activity

In other news, President Gregory R. Goff sold 250,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total value of $2,000,000.00. Following the transaction, the president now directly owns 852,694 shares of the company's stock, valued at $6,821,552. This represents a 22.67 % decrease in their ownership of the stock. The sale 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 Alight stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the sale, the director now directly owns 883,323 shares of the company's stock, valued at $7,287,414.75. The trade was a 84.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,334,929 shares of company stock valued at $43,895,460 in the last quarter. Company insiders own 5.33% of the company's stock.

Institutional Trading of Alight

Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in shares of Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock worth $37,000 after purchasing an additional 1,996 shares during the period. Oppenheimer & Co. Inc. bought a new position in Alight during the 3rd quarter worth $74,000. Nisa Investment Advisors LLC raised its holdings in Alight by 54.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company's stock valued at $85,000 after acquiring an additional 4,049 shares in the last quarter. Soros Fund Management LLC acquired a new position in Alight in the 3rd quarter valued at $89,000. Finally, FMR LLC lifted its position 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 acquiring an additional 3,689 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Down 1.6 %

Shares of NYSE ALIT traded down $0.11 during mid-day trading on Tuesday, reaching $6.76. 5,095,381 shares of the company's stock were exchanged, compared to its average volume of 4,792,295. Alight has a twelve month low of $6.15 and a twelve month high of $10.38. 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 firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -14.08 and a beta of 0.95. The business has a fifty day simple moving average of $7.35 and a 200 day simple moving average of $7.25.

Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $555.00 million for 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%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. As a group, equities analysts expect that Alight will post 0.47 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently declared a -- dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, December 2nd.

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.