Alight, Inc. (NYSE:ALIT) Receives $3.56 Average Target Price from Analysts

Alight, Inc. (NYSE:ALIT) has been given a consensus rating of “Hold” by the eight analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.5571.

A number of brokerages recently commented on ALIT. KeyCorp lowered Alight from an “overweight” rating to a “sector weight” rating in a research report on Thursday, February 19th. Bank of America assumed coverage on shares of Alight in a research note on Tuesday, February 17th. They issued an “underperform” rating and a $1.40 target price on the stock. Weiss Ratings cut shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 7th. Citigroup downgraded shares of Alight from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $6.50 to $1.00 in a research note on Friday, February 20th. Finally, Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th.

Insider Buying and Selling at Alight

In related news, CEO Rohit Verma purchased 112,000 shares of Alight stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $0.89 per share, for a total transaction of $99,680.00. Following the transaction, the chief executive officer directly owned 1,134,883 shares of the company’s stock, valued at approximately $1,010,045.87. This trade represents a 10.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders acquired 242,000 shares of company stock valued at $201,280. Corporate insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On Alight

Several hedge funds have recently added to or reduced their stakes in ALIT. EverSource Wealth Advisors LLC grew its position in shares of Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after buying an additional 3,138 shares during the period. Strs Ohio acquired a new stake in shares of Alight in the 1st quarter valued at approximately $25,000. Royal Bank of Canada raised its position in shares of Alight by 3.6% in the 1st quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock valued at $948,000 after acquiring an additional 5,525 shares during the period. HB Wealth Management LLC boosted its stake in Alight by 34.5% during the 4th quarter. HB Wealth Management LLC now owns 26,605 shares of the company’s stock worth $52,000 after acquiring an additional 6,817 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Alight by 1.6% during the third quarter. Alliancebernstein L.P. now owns 438,918 shares of the company’s stock valued at $1,431,000 after purchasing an additional 7,088 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Performance

ALIT stock opened at $0.84 on Wednesday. The company has a 50 day moving average price of $0.70 and a 200 day moving average price of $1.40. Alight has a fifty-two week low of $0.48 and a fifty-two week high of $6.11. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $451.12 million, a PE ratio of -0.14, a price-to-earnings-growth ratio of 0.25 and a beta of 1.56.

Alight (NYSE:ALIT) last released its earnings results on Tuesday, May 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. Alight had a positive return on equity of 13.04% and a negative net margin of 137.50%.The company had revenue of $534.00 million during the quarter, compared to analysts’ expectations of $502.74 million. Analysts forecast that Alight will post 0.28 EPS for the current year.

Alight Company Profile

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.