Brokerages Set Alight, Inc. (NYSE:ALIT) PT at $8.75

Shares of Alight, Inc. (NYSE:ALIT) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.75.

A number of equities research analysts have recently issued reports on ALIT shares. Needham & Company LLC lowered their price target on shares of Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. UBS Group lowered their target price on shares of Alight from $10.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Wedbush lowered their target price on shares of Alight from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th.

Alight Trading Down 7.0%

Shares of Alight stock opened at $2.51 on Monday. Alight has a 12-month low of $2.39 and a 12-month high of $8.93. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -1.14 and a beta of 1.02. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $3.28 and its 200-day moving average price is $4.53.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $525.26 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities analysts expect that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Monday, December 1st. Alight’s dividend payout ratio (DPR) is currently -7.24%.

Institutional Investors Weigh In On Alight

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Alight by 3.8% in the first quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company’s stock valued at $251,606,000 after purchasing an additional 1,548,078 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alight by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company’s stock worth $146,173,000 after acquiring an additional 1,930,440 shares in the last quarter. Rubric Capital Management LP raised its stake in shares of Alight by 10.8% during the second quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock worth $111,089,000 after acquiring an additional 1,906,140 shares in the last quarter. State Street Corp raised its stake in shares of Alight by 2.0% during the second quarter. State Street Corp now owns 12,115,866 shares of the company’s stock worth $68,576,000 after acquiring an additional 241,965 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Alight by 1.3% during the second quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock worth $58,950,000 after acquiring an additional 135,109 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.