Alight’s (ALIT) “Buy” Rating Reaffirmed at DA Davidson

Alight (NYSE:ALIT)‘s stock had its “buy” rating restated by DA Davidson in a research report issued on Wednesday,Benzinga reports. They presently have a $10.00 price target on the stock. DA Davidson’s target price suggests a potential upside of 62.21% from the stock’s current price.

Several other research firms also recently issued reports on ALIT. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Alight in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Alight in a research report on Monday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.19.

Alight Price Performance

Shares of Alight stock traded down $0.03 during mid-day trading on Wednesday, reaching $6.17. 206,701 shares of the stock were exchanged, compared to its average volume of 5,432,036. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -20.57 and a beta of 0.94. Alight has a fifty-two week low of $5.87 and a fifty-two week high of $10.04. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $7.03.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. On average, sell-side analysts predict that Alight will post 0.54 EPS for the current fiscal year.

Insider Activity at Alight

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the period. Public Employees Retirement System of Ohio increased its stake in 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 acquiring an additional 1,996 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Alight in the fourth quarter worth $50,000. Sandia Investment Management LP acquired a new stake in Alight during the fourth quarter worth about $69,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Alight during the 4th quarter worth approximately $84,000. 96.74% of the stock is owned by institutional investors and hedge funds.

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.