Alight, Inc. (NYSE:ALIT) Receives $10.31 Consensus Target Price from Analysts

Shares of Alight, Inc. (NYSE:ALIT) have been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.19.

A number of research firms recently weighed in on ALIT. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Alight in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Alight in a research report on Monday. Finally, DA Davidson reaffirmed a “buy” rating and set a $10.00 price objective on shares of Alight in a research report on Wednesday.

Alight Stock Up 0.4 %

Shares of NYSE ALIT opened at $6.23 on Friday. The company has a market capitalization of $3.38 billion, a P/E ratio of -20.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The company has a 50 day simple moving average of $6.58 and a 200-day simple moving average of $7.02. Alight has a 1 year low of $5.87 and a 1 year high of $10.04.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $675.66 million. On average, equities research analysts predict that Alight will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.04 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 2.57%. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Insider Buying and Selling at Alight

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the purchase, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Massey acquired 100,000 shares of the stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 125,092 shares of company stock worth $807,755 over the last 90 days. Corporate insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

Several hedge funds have recently made changes to their positions in ALIT. Walleye Capital LLC purchased a new stake in Alight during the 3rd quarter valued at approximately $5,063,000. JPMorgan Chase & Co. raised its stake 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 worth $13,794,000 after purchasing an additional 1,248,465 shares during the last quarter. Wexford Capital LP lifted its holdings in shares of Alight by 320.2% during the third quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock worth $814,000 after purchasing an additional 83,822 shares during the period. Maverick Capital Ltd. purchased a new position in Alight in the 3rd quarter valued at $1,834,000. Finally, Weiss Asset Management LP acquired a new position in Alight in the 3rd quarter valued at $1,512,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.