Alight, Inc. (NYSE:ALIT) Receives $10.83 Consensus Target Price from Analysts

Shares of Alight, Inc. (NYSE:ALIT) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $10.83.

ALIT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. KeyCorp lifted their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group increased their target price on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup decreased their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Needham & Company LLC raised their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Alight Price Performance

Shares of ALIT stock opened at $7.16 on Friday. The company has a market capitalization of $3.89 billion, a P/E ratio of -14.92 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 12 month low of $6.15 and a 12 month high of $10.38. The stock has a 50 day moving average of $7.46 and a two-hundred day moving average of $7.32.

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

Alight Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Insider Activity at Alight

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

Institutional Trading of Alight

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP acquired a new position in shares of Alight during the 2nd quarter worth about $62,162,000. Dimensional Fund Advisors LP increased its position in Alight by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after buying an additional 3,342,413 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Alight by 100.9% in the second quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock valued at $26,385,000 after buying an additional 1,795,830 shares during the period. Victory Capital Management Inc. lifted its position in shares of Alight by 28.3% in the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after buying an additional 1,358,020 shares during the last quarter. Finally, Engine Capital Management LP bought a new position in shares of Alight during the 2nd quarter worth approximately $9,594,000. Institutional investors 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.