Alight, Inc. (NYSE:ALIT) Receives $9.94 Average Price Target from Brokerages

Shares of Alight, Inc. (NYSE:ALIT - Get Free Report) have earned an average rating of "Moderate Buy" from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.94.

Several brokerages recently issued reports on ALIT. Needham & Company LLC reissued a "buy" rating and set a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Wedbush decreased their price objective on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday. Finally, DA Davidson reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th.

Insider Transactions at Alight

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

Institutional Investors Weigh In On Alight

Several institutional investors and hedge funds have recently modified their holdings of the stock. Starboard Value LP lifted its position in Alight by 8.8% during the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock worth $326,818,000 after acquiring an additional 3,833,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Alight by 3.8% during the first quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company's stock valued at $251,606,000 after purchasing an additional 1,548,078 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Alight by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company's stock worth $146,173,000 after purchasing an additional 1,930,440 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Alight by 13.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock worth $168,130,000 after purchasing an additional 2,901,108 shares in the last quarter. Finally, Cooper Creek Partners Management LLC grew its holdings in Alight by 23.1% during the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company's stock valued at $122,514,000 after purchasing an additional 3,322,705 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Price Performance

NYSE:ALIT traded up $0.10 during mid-day trading on Monday, hitting $5.89. 7,003,080 shares of the company's stock traded hands, compared to its average volume of 6,322,523. 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 company has a market cap of $3.20 billion, a PE ratio of -19.63 and a beta of 0.99. The firm's 50 day simple moving average is $5.52 and its 200 day simple moving average is $6.54. Alight has a 1 year low of $4.49 and a 1 year high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business had revenue of $548.00 million during the quarter, compared to analyst estimates of $542.66 million. During the same quarter in the prior year, the company earned $0.13 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts expect that Alight will post 0.54 EPS for the current year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 2.72%. Alight's dividend payout ratio is presently -114.29%.

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.