Alight (NYSE:ALIT) Given Buy Rating at DA Davidson

Alight (NYSE:ALIT)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $10.00 price objective on the stock. DA Davidson’s target price suggests a potential upside of 60.64% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on ALIT. Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Alight in a report on Monday. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Alight in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Alight has a consensus rating of “Moderate Buy” and an average target price of $10.19.

Alight Trading Up 0.4 %

ALIT opened at $6.23 on Wednesday. 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 has a fifty-two week low of $5.87 and a fifty-two week high of $10.04. The firm has a 50 day simple moving average of $6.58 and a 200 day simple moving average of $7.02. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -20.75 and a beta of 0.94.

Alight (NYSE:ALIT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $675.66 million. On average, sell-side analysts anticipate that Alight will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard N. Massey bought 100,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert A. Schriesheim purchased 22,092 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the purchase, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 125,092 shares of company stock worth $807,755. Corporate insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

A number of hedge funds and other institutional investors have recently bought and sold shares of ALIT. Blue Trust Inc. increased its holdings in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after acquiring an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings 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 buying an additional 1,996 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Alight in the fourth quarter valued at approximately $50,000. Sandia Investment Management LP acquired a new stake in Alight during the 4th quarter worth approximately $69,000. Finally, Soros Fund Management LLC bought a new stake in Alight in the 3rd quarter valued at $89,000. 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.