Alight's (ALIT) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Alight (NYSE:ALIT - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. DA Davidson currently has a $10.00 target price on the stock.

A number of other research firms have also recently commented on ALIT. Wedbush reissued an "outperform" rating and set a $11.00 target price on shares of Alight in a research report on Tuesday, March 25th. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price target on shares of Alight in a report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.19.

Alight Trading Down 4.9 %

NYSE:ALIT traded down $0.31 on Wednesday, hitting $5.91. 7,784,543 shares of the stock were exchanged, compared to its average volume of 5,601,850. The stock has a fifty day moving average of $6.56 and a 200-day moving average of $7.01. The stock has a market cap of $3.21 billion, a PE ratio of -19.68 and a beta of 0.94. Alight has a fifty-two week low of $5.87 and a fifty-two week high of $9.92. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

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Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $675.66 million. As a group, equities analysts expect that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.71%. Alight's dividend payout ratio (DPR) is presently -53.33%.

Insider Transactions at Alight

In related news, Director Richard N. Massey bought 100,000 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $6.39 per share, with a total value of $639,000.00. Following the purchase, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the purchase, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 125,092 shares of company stock worth $807,755. Company insiders own 5.33% of the company's stock.

Hedge Funds Weigh In On Alight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after buying an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of 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 purchasing an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Alight in the 4th quarter worth approximately $50,000. Sandia Investment Management LP bought a new stake in shares of Alight in the 4th quarter worth approximately $69,000. Finally, Headlands Technologies LLC acquired a new stake in Alight during the fourth quarter valued at approximately $84,000. 96.74% of the stock is owned by 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.