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

Shares of Alight, Inc. (NYSE:ALIT) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $10.19.

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

Insiders Place Their Bets

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now owns 1,573,489 shares in the company, valued at $10,054,594.71. This represents a 6.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert A. Schriesheim purchased 22,092 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares of the company’s stock, valued at $150,004.68. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 125,092 shares of company stock worth $807,755. 5.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alight

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Alight during the 4th quarter worth about $35,045,000. Starboard Value LP raised its holdings in shares of Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock valued at $326,818,000 after acquiring an additional 3,833,000 shares during the period. Cooper Creek Partners Management LLC raised its holdings in shares of Alight by 23.1% during the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock valued at $122,514,000 after acquiring an additional 3,322,705 shares during the period. American Century Companies Inc. lifted its position in shares of 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 acquiring an additional 3,135,846 shares in the last quarter. Finally, J. Goldman & Co LP boosted 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 worth $39,960,000 after purchasing an additional 2,961,443 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Up 0.8 %

Alight stock opened at $5.04 on Thursday. The firm has a market capitalization of $2.74 billion, a P/E ratio of -16.80 and a beta of 0.97. The company has a 50-day simple moving average of $6.07 and a 200-day simple moving average of $6.80. Alight has a one year low of $4.49 and a one year high of $9.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

Alight (NYSE:ALIT) last posted 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 firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. As a group, equities analysts expect that Alight will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Monday, March 3rd. Alight’s payout ratio is currently -53.33%.

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.