Brokerages Set Alight, Inc. (NYSE:ALIT) Target Price at $10.83

Shares of Alight, Inc. (NYSE:ALIT) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the company, MarketBeat 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 12 month price objective among analysts that have covered the stock in the last year is $10.83.

A number of equities research analysts have commented on ALIT shares. Canaccord Genuity Group increased their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC increased their price target on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp boosted their price objective 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. Finally, Citigroup decreased their price objective on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th.

Alight Stock Performance

NYSE:ALIT opened at $6.76 on Friday. The stock has a market capitalization of $3.67 billion, a P/E ratio of -14.08 and a beta of 0.92. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight has a 1 year low of $6.15 and a 1 year high of $10.38. The firm has a 50 day moving average of $7.44 and a 200-day moving average of $7.31.

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

Alight Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.04 dividend. The ex-dividend date was Monday, December 2nd.

Insider Buying and Selling

In related news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the transaction, the insider now owns 223,327 shares of the company’s stock, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Gregory R. Goff sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the president now directly owns 852,694 shares of the company’s stock, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,334,929 shares of company stock valued at $43,895,460 over the last three months. Company insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALIT. Public Employees Retirement System of Ohio raised its position in shares of Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after purchasing an additional 1,996 shares during the period. Nisa Investment Advisors LLC increased its stake in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Alight during the 3rd quarter worth approximately $74,000. Soros Fund Management LLC acquired a new stake in Alight during the 3rd quarter worth approximately $89,000. Finally, FMR LLC lifted its stake in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after buying an additional 3,689 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.