Alight, Inc. (NYSE:ALIT) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Alight, Inc. has received a consensus rating of "Moderate Buy" from analysts, with six out of seven brokerages recommending a buy, and an average target price of $9.86.
• Recent insider activity includes Director David D. Guilmette acquiring 50,000 shares at an average price of $5.69, indicating confidence in the company's future.
• Alight will pay a quarterly dividend of $0.04 per share on September 15th, representing a yield of 2.78% despite a negative dividend payout ratio.

Alight, Inc. (NYSE:ALIT - Get Free Report) has been given an average rating of "Moderate Buy" by the seven analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $9.86.

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price target on shares of Alight in a research report on Friday, June 20th. Wedbush lowered their price target on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th.

Insider Activity

In related news, Director David D. Guilmette bought 50,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were purchased at an average price of $5.69 per share, with a total value of $284,500.00. Following the completion of the purchase, the director owned 600,750 shares of the company's stock, valued at $3,418,267.50. This represents a 9.08% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alight

Several hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its holdings in shares of Alight by 5.7% during the fourth quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock worth $28,426,000 after buying an additional 222,725 shares in the last quarter. Starboard Value LP lifted its position in shares of Alight by 8.8% in the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock valued at $326,818,000 after buying an additional 3,833,000 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Alight during the 1st quarter worth approximately $428,000. EVR Research LP lifted its holdings in Alight by 16.9% during the 4th quarter. EVR Research LP now owns 2,280,000 shares of the company's stock worth $15,778,000 after purchasing an additional 330,000 shares during the last quarter. Finally, Sculptor Capital LP acquired a new stake in Alight during the 4th quarter worth approximately $1,730,000. Institutional investors and hedge funds own 96.74% of the company's stock.

Alight Stock Up 1.3%

Alight stock traded up $0.08 during mid-day trading on Friday, hitting $5.77. The company's stock had a trading volume of 2,769,427 shares, compared to its average volume of 6,477,071. The company has a market cap of $3.10 billion, a PE ratio of -41.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.18 and a quick ratio of 1.18. Alight has a 52-week low of $4.49 and a 52-week high of $8.93. The firm's 50 day moving average is $5.55 and its 200 day moving average is $5.89.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly 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). Alight had a negative net margin of 2.65% and a positive return on equity of 5.74%. The firm had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Alight will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) 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.