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

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

A number of brokerages recently weighed in on ALIT. Wedbush reduced their target price on shares of Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. DA Davidson reiterated a "buy" rating and set a $10.00 price objective on shares of Alight in a 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 Trading Up 2.0%

Alight stock traded up $0.11 during midday trading on Friday, hitting $5.46. 4,935,370 shares of the stock were exchanged, compared to its average volume of 6,364,101. Alight has a 52 week low of $4.49 and a 52 week 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 stock has a market capitalization of $2.94 billion, a PE ratio of -18.18 and a beta of 1.00. The company has a fifty day simple moving average of $5.31 and a two-hundred day simple moving average of $6.32.

Alight (NYSE:ALIT - Get Free Report) last posted its 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). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The business had revenue of $548.00 million for the quarter, compared to the consensus estimate of $542.66 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The business's revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Alight will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, June 2nd. Alight's dividend payout ratio (DPR) is presently -114.29%.

Insider Activity

In related news, Director Richard N. Massey bought 100,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David D. Guilmette purchased 50,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was acquired at an average price of $5.69 per share, for a total transaction of $284,500.00. Following the purchase, the director now owns 600,750 shares in the company, valued at approximately $3,418,267.50. The trade was a 9.08% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 153,000 shares of company stock valued at $942,250. 5.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alight

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in 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 purchasing an additional 1,729 shares during the last quarter. Strs Ohio bought a new position in Alight during the first quarter worth $25,000. CWM LLC lifted its holdings in Alight by 364.8% in the first quarter. CWM LLC now owns 5,104 shares of the company's stock valued at $30,000 after buying an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Alight by 82.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock valued at $31,000 after acquiring an additional 2,348 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Alight by 5,505.8% during the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after purchasing an additional 7,653 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

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.