Analysts Set Alight, Inc. (NYSE:ALIT) Target Price at $10.31

Alight, Inc. (NYSE:ALIT) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.44.

ALIT has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Alight in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Monday.

Insider Buying and Selling

In other news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 125,092 shares of company stock worth $807,755. 5.33% of the stock is owned by corporate insiders.

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently modified their holdings of ALIT. Blue Trust Inc. lifted its position in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after buying an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Alight by 65.5% during the 3rd 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. Venturi Wealth Management LLC purchased a new position in shares of Alight during the 4th quarter worth approximately $50,000. Sandia Investment Management LP acquired a new stake in Alight in the 4th quarter valued at approximately $69,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Alight in the third quarter valued at approximately $74,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Performance

Shares of NYSE:ALIT opened at $6.19 on Friday. 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 $5.87 and a 12 month high of $10.04. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -20.63 and a beta of 0.94. The firm’s 50-day moving average is $6.60 and its 200 day moving average is $7.03.

Alight (NYSE:ALIT) last issued its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $675.66 million. Research analysts predict that Alight will post 0.54 EPS 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 paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Monday, March 3rd. Alight’s dividend payout ratio is presently -53.33%.

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.