Alight's (ALIT) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Alight (NYSE:ALIT - Free Report) in a research note published on Monday,Benzinga reports. The firm currently has a $9.00 price target on the stock.

Alight Trading Down 4.9 %

Shares of Alight stock traded down $0.31 during trading hours on Monday, hitting $5.91. The company's stock had a trading volume of 7,784,543 shares, compared to its average volume of 5,601,850. The firm has a fifty day moving average of $6.56 and a 200-day moving average of $7.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -19.68 and a beta of 0.94. Alight has a twelve month low of $5.87 and a twelve month high of $9.92.

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

Remove Ads

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 2.71%. The ex-dividend date was Monday, March 3rd. Alight's dividend payout ratio is presently -53.33%.

Insiders Place Their Bets

In related news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were purchased at an average cost 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 position. The disclosure for this purchase can be found here. Insiders acquired 125,092 shares of company stock valued at $807,755 in the last ninety days. Insiders own 5.33% of the company's stock.

Hedge Funds Weigh In On Alight

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its position in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after purchasing an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio grew 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 buying an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Alight in the 4th quarter valued at about $50,000. Sandia Investment Management LP purchased a new stake in Alight during the 4th quarter valued at approximately $69,000. Finally, Headlands Technologies LLC acquired a new stake in Alight during the 4th quarter worth approximately $84,000. 96.74% of the stock is currently 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.