Alight, Inc. (NYSE:ALIT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

Shares of Alight, Inc. (NYSE:ALIT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $10.61.

ALIT has been the topic of several recent analyst reports. KeyCorp lifted their target price on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group boosted their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC decreased their target price on Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday.

Get Our Latest Stock Report on ALIT

Alight Trading Down 1.7 %

Shares of Alight stock opened at $6.53 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $7.33 and a 200 day simple moving average of $7.24. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The company has a market capitalization of $3.55 billion, a P/E ratio of -13.60 and a beta of 0.95.

Alight (NYSE:ALIT – Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The firm had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Alight will post 0.47 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.04 dividend. The ex-dividend date was Monday, December 2nd.

Insider Buying and Selling at Alight

In other Alight news, insider Gregory A. George sold 84,929 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the transaction, the insider now owns 223,327 shares in the company, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the sale, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,334,929 shares of company stock valued at $43,895,460 over the last three months. 5.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alight

Several hedge funds have recently bought and sold shares of the company. Walleye Capital LLC bought a new position in Alight in the 3rd quarter valued at $5,063,000. Highland Peak Capital LLC bought a new stake in Alight during the third quarter valued at $5,315,000. Victory Capital Management Inc. grew its position in Alight by 28.3% during the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock worth $45,465,000 after buying an additional 1,358,020 shares in the last quarter. River Road Asset Management LLC increased its stake in Alight by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock worth $73,913,000 after acquiring an additional 286,133 shares during the last quarter. Finally, Wexford Capital LP raised its holdings in shares of Alight by 320.2% in the 3rd quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock valued at $814,000 after acquiring an additional 83,822 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Company Profile

(Get Free Report

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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