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

Shares of Alight, Inc. (NYSE:ALIT - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.86.

ALIT has been the topic of several research reports. Wedbush decreased their target price on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 price target on shares of Alight in a report on Friday, June 20th. Finally, DA Davidson reissued a "buy" rating and set a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th.

Alight Trading Up 1.8%

Shares of Alight stock opened at $5.67 on Tuesday. Alight has a 1-year low of $4.49 and a 1-year high of $8.93. The stock has a market cap of $3.05 billion, a P/E ratio of -40.50 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. The stock's 50 day simple moving average is $5.42 and its 200-day simple moving average is $6.03.

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 analysts' consensus estimates of $0.12 by ($0.02). Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. 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 business earned $0.13 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. Analysts predict that Alight will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Monday, June 2nd. Alight's dividend payout ratio is currently -114.29%.

Insider Activity at Alight

In other news, Director David D. Guilmette acquired 50,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were bought at an average cost of $5.69 per share, with a total value of $284,500.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alight

Hedge funds have recently added to or reduced their stakes in the company. Stanley Capital Management LLC lifted its holdings in Alight by 47.6% in the first quarter. Stanley Capital Management LLC now owns 3,100,835 shares of the company's stock valued at $18,388,000 after acquiring an additional 1,000,000 shares during the period. Strs Ohio acquired a new position in shares of Alight during the 1st quarter worth approximately $25,000. Intech Investment Management LLC grew its holdings in Alight by 50.1% during the 1st quarter. Intech Investment Management LLC now owns 249,889 shares of the company's stock valued at $1,482,000 after buying an additional 83,420 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Alight by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company's stock worth $6,091,000 after purchasing an additional 66,771 shares in the last quarter. Finally, Palogic Value Management L.P. grew its holdings in shares of Alight by 11.9% during the first quarter. Palogic Value Management L.P. now owns 470,000 shares of the company's stock worth $2,787,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

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.

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