Alight, Inc. (NYSE:ALIT) Receives $10.83 Average Price Target from Brokerages

Shares of Alight, Inc. (NYSE:ALIT) have been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $10.61.

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

Insider Buying and Selling at Alight

In other news, insider Gregory A. George sold 84,929 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the transaction, the insider now directly owns 223,327 shares in the company, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares of the company’s stock, valued at $7,287,414.75. The trade was a 84.99 % decrease in their position. 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 in the last 90 days. Corporate insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALIT. JPMorgan Chase & Co. increased its stake in shares of Alight by 202.8% in the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock worth $13,794,000 after buying an additional 1,248,465 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Alight by 9.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 119,700 shares of the company’s stock worth $868,000 after acquiring an additional 10,800 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alight by 0.8% in the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock valued at $74,521,000 after acquiring an additional 77,948 shares during the period. Barclays PLC boosted its holdings in shares of Alight by 148.2% during the third quarter. Barclays PLC now owns 815,841 shares of the company’s stock worth $6,037,000 after purchasing an additional 487,185 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Alight by 65.5% in 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 last quarter. 96.74% of the stock is owned by institutional investors.

Alight Price Performance

Shares of ALIT opened at $6.63 on Tuesday. The business has a 50-day moving average of $7.34 and a 200-day moving average of $7.24. Alight has a 1 year low of $6.15 and a 1 year high of $10.38. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -13.81 and a beta of 0.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Alight (NYSE:ALIT) last released its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. Alight’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that Alight will post 0.47 earnings per share for the current year.

Alight Announces Dividend

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

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.