Alight, Inc. (NYSE:ALIT) Receives $9.86 Average Target Price from Brokerages

Alight, Inc. (NYSE:ALIT) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $9.86.

ALIT has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of Alight in a research note on Friday, June 20th. DA Davidson restated a “buy” rating and set a $10.00 price target on shares of Alight in a research report on Wednesday, March 26th. Finally, Wedbush dropped their price objective on Alight from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, May 9th.

Insiders Place Their Bets

In other news, Director David D. Guilmette acquired 50,000 shares of Alight stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average cost of $5.69 per share, for a total transaction of $284,500.00. Following the transaction, the director owned 600,750 shares of the company’s stock, valued at $3,418,267.50. This trade represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.93% of the stock is owned by insiders.

Institutional Trading of Alight

Several institutional investors have recently added to or reduced their stakes in ALIT. Bank of New York Mellon Corp raised its holdings in Alight by 94.6% during the 4th quarter. Bank of New York Mellon Corp now owns 4,155,792 shares of the company’s stock valued at $28,758,000 after buying an additional 2,020,648 shares during the last quarter. US Bancorp DE lifted its holdings in Alight by 17.5% in the fourth quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after buying an additional 3,576 shares during the period. Winslow Asset Management Inc. purchased a new position in shares of Alight in the 4th quarter valued at approximately $93,000. Charles Schwab Investment Management Inc. lifted its position in Alight by 10.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,429,362 shares of the company’s stock valued at $37,571,000 after buying an additional 530,769 shares during the period. Finally, Cornerstone Investment Partners LLC increased its stake in shares of Alight by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock worth $468,000 after acquiring an additional 2,356 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Stock Performance

NYSE ALIT opened at $5.98 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $3.22 billion, a PE ratio of -42.68 and a beta of 1.00. Alight has a 52-week low of $4.49 and a 52-week high of $8.93. The company has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $6.02.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. On average, research analysts predict that Alight will post 0.54 EPS for the current year.

Alight Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.04 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 2.68%. Alight’s dividend payout ratio (DPR) is presently -114.29%.

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.