Alight, Inc. (NYSE:ALIT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Alight, Inc. (NYSE:ALIT) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.94.

Several research firms recently commented on ALIT. Wedbush reduced their target price on Alight from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. DA Davidson restated a “buy” rating and set a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Alight in a research note on Monday, March 24th.

Insiders Place Their Bets

In related news, Director David D. Guilmette bought 50,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was bought at an average price of $5.69 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after acquiring an additional 1,729 shares during the last quarter. Strs Ohio bought a new stake in shares of Alight in the 1st quarter valued at about $25,000. CWM LLC lifted its stake in shares of Alight by 364.8% in the 1st quarter. CWM LLC now owns 5,104 shares of the company’s stock valued at $30,000 after acquiring an additional 4,006 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Alight by 82.8% in the 1st 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 lifted its stake in shares of Alight by 5,505.8% in the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company’s stock valued at $46,000 after acquiring an additional 7,653 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

Alight stock opened at $5.45 on Friday. Alight has a 52 week low of $4.49 and a 52 week high of $8.93. The business has a 50-day simple moving average of $5.30 and a 200 day simple moving average of $6.26. 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 cap of $2.93 billion, a price-to-earnings ratio of -18.15 and a beta of 1.00.

Alight (NYSE:ALIT) last posted its earnings results on Thursday, May 8th. The company reported $0.10 EPS 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 analysts’ expectations of $542.66 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Alight’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts forecast that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Monday, June 2nd. Alight’s dividend payout ratio (DPR) is currently -114.29%.

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.