Brokerages Set Alight, Inc. (NYSE:ALIT) Target Price at $9.94

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

A number of 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 report 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, May 9th. Finally, 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.

Insider Transactions at Alight

In related news, Director Richard N. Massey acquired 100,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the acquisition, the director now directly 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 SEC, which is accessible through this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $6.79 per share, with a total value of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ 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 quarter. 5.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in Alight by 148.2% during the 3rd quarter. Barclays PLC now owns 815,841 shares of the company's stock worth $6,037,000 after buying an additional 487,185 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alight by 202.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock valued at $13,794,000 after acquiring an additional 1,248,465 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 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 buying an additional 1,729 shares during the last quarter. KBC Group NV lifted its holdings in Alight by 89.2% in the fourth quarter. KBC Group NV now owns 22,802 shares of the company's stock worth $158,000 after acquiring an additional 10,753 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Alight in the fourth quarter valued at approximately $893,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Trading Up 0.1%

Shares of ALIT stock traded up $0.01 during mid-day trading on Monday, reaching $5.76. 1,195,903 shares of the stock traded hands, compared to its average volume of 6,287,368. Alight has a 1-year low of $4.49 and a 1-year high of $8.93. 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 company has a market cap of $3.13 billion, a price-to-earnings ratio of -19.22 and a beta of 0.99. The stock's fifty day simple moving average is $5.50 and its two-hundred day simple moving average is $6.52.

Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to analysts' expectations of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. On average, research analysts anticipate that Alight will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.04 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.78%. 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.