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

Shares of Alight, Inc. (NYSE:ALIT) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.95.

A number of brokerages have weighed in on ALIT. Needham & Company LLC lifted their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wedbush reduced their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. KeyCorp boosted their price target on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a research report on Tuesday, August 20th.

Insider Buying and Selling at Alight

In related news, insider Gregory A. George sold 84,929 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the transaction, the insider now owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was 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 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. Company insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

A number of large investors have recently bought and sold shares of ALIT. Geode Capital Management LLC raised its holdings in shares of Alight by 0.8% during the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock valued at $74,521,000 after acquiring an additional 77,948 shares during the last quarter. Barclays PLC grew its position in shares of Alight by 148.2% in the third quarter. Barclays PLC now owns 815,841 shares of the company’s stock valued at $6,037,000 after purchasing an additional 487,185 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after acquiring an additional 1,996 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Alight in the third quarter worth approximately $588,000. Finally, Wexford Capital LP grew its position in Alight by 320.2% in the third quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock worth $814,000 after acquiring an additional 83,822 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Up 1.3 %

Shares of NYSE ALIT opened at $7.98 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $7.34 and a two-hundred day simple moving average of $7.35. Alight has a twelve month low of $6.15 and a twelve month high of $10.38.

Alight (NYSE:ALIT) last issued its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million during 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%. Alight’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. Equities research analysts predict that Alight will post 0.47 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. 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.