Alight, Inc. (NYSE:ALIT) Receives Average Rating of “Buy” from Analysts

Shares of Alight, Inc. (NYSE:ALIT) have been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $12.71.

A number of research analysts recently commented on ALIT shares. Canaccord Genuity Group upped their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Needham & Company LLC increased their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Citigroup reissued a “buy” rating and issued a $12.00 price target on shares of Alight in a research note on Friday, January 5th. Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Alight in a research note on Thursday, April 25th. Finally, UBS Group increased their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st.

Insider Activity

In other news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the transaction, the chief executive officer now owns 8,198,199 shares of the company’s stock, valued at approximately $80,424,332.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alight news, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephan Scholl sold 428,574 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the sale, the chief executive officer now owns 8,198,199 shares of the company’s stock, valued at approximately $80,424,332.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 550,129 shares of company stock valued at $12,449,117. Insiders own 3.66% of the company’s stock.

Hedge Funds Weigh In On Alight

Several hedge funds and other institutional investors have recently modified their holdings of ALIT. DekaBank Deutsche Girozentrale bought a new position in Alight in the 3rd quarter valued at $52,000. First Horizon Advisors Inc. raised its position in Alight by 38.9% in the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock valued at $58,000 after purchasing an additional 1,897 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Alight by 86.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company’s stock valued at $86,000 after purchasing an additional 5,661 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alight in the 3rd quarter valued at $109,000. Finally, Orion Portfolio Solutions LLC raised its position in Alight by 13.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company’s stock valued at $123,000 after purchasing an additional 2,082 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

Shares of ALIT opened at $8.99 on Thursday. The business’s 50 day moving average is $9.26 and its two-hundred day moving average is $8.50. Alight has a 52-week low of $6.33 and a 52-week high of $10.38. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of -16.34, a PEG ratio of 1.79 and a beta of 0.92. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. Analysts forecast that Alight will post 0.5 EPS for the current fiscal year.

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.