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

Shares of Alight, Inc. (NYSE:ALIT - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.19.

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

Alight Stock Performance

Shares of NYSE:ALIT traded down $0.17 during midday trading on Thursday, reaching $4.82. 8,014,696 shares of the company's stock traded hands, compared to its average volume of 6,115,703. 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 has a one year low of $4.49 and a one year high of $9.45. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -16.07 and a beta of 0.97. The stock has a 50 day moving average of $5.96 and a 200 day moving average of $6.74.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The company had revenue of $680.00 million for the quarter, compared to analysts' expectations of $675.66 million. As a group, equities research analysts anticipate that Alight will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, March 3rd. Alight's dividend payout ratio (DPR) is currently -53.33%.

Insider Activity

In other news, Director Richard N. Massey bought 100,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert A. Schriesheim purchased 22,092 shares of the business's stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the purchase, the director now directly owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 125,092 shares of company stock valued at $807,755 in the last ninety days. Corporate insiders own 5.33% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Alight by 202.8% during the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock valued at $13,794,000 after buying an additional 1,248,465 shares during the last quarter. Geode Capital Management LLC lifted its stake in Alight by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company's stock worth $74,521,000 after purchasing an additional 77,948 shares in the last quarter. Barclays PLC boosted its holdings in shares of Alight by 148.2% during the 3rd quarter. Barclays PLC now owns 815,841 shares of the company's stock valued at $6,037,000 after purchasing an additional 487,185 shares during the last quarter. EVR Research LP grew its position in shares of Alight by 16.9% during the fourth quarter. EVR Research LP now owns 2,280,000 shares of the company's stock valued at $15,778,000 after purchasing an additional 330,000 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of Alight in the fourth quarter worth about $893,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.