Alight (NYSE:ALIT) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Alight (NYSE:ALIT) announced its earnings results on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07), FiscalAI reports. The firm had revenue of $653.00 million for the quarter, compared to analyst estimates of $654.30 million. Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.

Alight Trading Down 34.3%

Shares of ALIT traded down $0.45 during trading hours on Thursday, hitting $0.86. 41,674,993 shares of the stock traded hands, compared to its average volume of 12,021,725. The business has a fifty day moving average of $1.70 and a 200-day moving average of $2.62. The firm has a market capitalization of $459.09 million, a PE ratio of -0.21 and a beta of 1.09. Alight has a 1-year low of $0.72 and a 1-year high of $7.66. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99.

Analyst Ratings Changes

ALIT has been the topic of several recent analyst reports. KeyCorp reissued a “sector weight” rating on shares of Alight in a report on Thursday. UBS Group reduced their price objective on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. DA Davidson lowered their target price on Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Bank of America assumed coverage on shares of Alight in a research report on Tuesday. They set an “underperform” rating and a $1.40 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Alight currently has a consensus rating of “Hold” and an average target price of $3.98.

Insiders Place Their Bets

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $2.33 per share, with a total value of $233,000.00. Following the completion of the purchase, the director directly owned 100,000 shares in the company, valued at approximately $233,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert A. Schriesheim acquired 42,098 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average price of $2.38 per share, for a total transaction of $100,193.24. Following the completion of the acquisition, the director directly owned 109,130 shares of the company’s stock, valued at $259,729.40. This trade represents a 62.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 193,116 shares of company stock valued at $448,984. 1.93% of the stock is currently owned by insiders.

Institutional Trading of Alight

Several institutional investors and hedge funds have recently made changes to their positions in ALIT. Amundi bought a new position in shares of Alight in the 4th quarter worth $40,000. Blair William & Co. IL acquired a new position in Alight in the fourth quarter valued at about $48,000. MML Investors Services LLC bought a new position in Alight during the fourth quarter worth about $46,000. Quadrant Capital Group LLC grew its position in shares of Alight by 958.4% during the 4th quarter. Quadrant Capital Group LLC now owns 21,063 shares of the company’s stock worth $41,000 after buying an additional 19,073 shares during the period. Finally, Franklin Resources Inc. bought a new stake in shares of Alight in the 4th quarter valued at about $44,000. Institutional investors own 96.74% of the company’s stock.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.