Alight, Inc. (NYSE:ALIT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Alight, Inc. (NYSE:ALIT) have been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $52.3333.

A number of brokerages have weighed in on ALIT. Needham & Company LLC reissued a “hold” rating on shares of Alight in a report on Thursday, August 20th. Citigroup reiterated a “neutral” rating and issued a $16.00 target price (down from $20.00) on shares of Alight in a report on Thursday, August 20th. DA Davidson raised their target price on shares of Alight from $2.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Alight in a research report on Tuesday, August 4th.

Alight Stock Up 3.4%

Shares of ALIT stock opened at $12.37 on Tuesday. Alight has a 1 year low of $9.58 and a 1 year high of $74.00. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.42 and a current ratio of 1.42. The business’s fifty day moving average is $16.38 and its 200-day moving average is $15.07. The stock has a market cap of $333.26 million, a PE ratio of -0.16, a price-to-earnings-growth ratio of 0.25 and a beta of 1.56.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.15. Alight had a positive return on equity of 16.05% and a negative net margin of 90.90%.The business had revenue of $511.00 million during the quarter, compared to analyst estimates of $497.02 million. Equities analysts expect that Alight will post 4.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alight

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC raised its position in shares of Alight by 508.7% during the second quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock worth $1,021,000 after purchasing an additional 1,524,070 shares during the period. Allworth Financial LP boosted its position in shares of Alight by 116.4% in the 2nd quarter. Allworth Financial LP now owns 64,767 shares of the company’s stock valued at $36,000 after purchasing an additional 34,844 shares during the period. Corient Private Wealth LP boosted its position in shares of Alight by 984.0% in the 2nd quarter. Corient Private Wealth LP now owns 334,980 shares of the company’s stock valued at $188,000 after purchasing an additional 304,079 shares during the period. Angeles Wealth Management LLC increased its stake in Alight by 1,948.1% in the 2nd quarter. Angeles Wealth Management LLC now owns 315,400 shares of the company’s stock worth $177,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Alight by 15.3% in the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock worth $2,779,000 after purchasing an additional 656,746 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Company Profile

Alight, Inc provides cloud-based human capital and business solutions designed to help employers manage employee-related programs and administrative processes. Its offerings support areas such as payroll, human resources, employee benefits, workforce management, and employee financial and physical wellbeing.

The company’s platform and services are used by organizations to administer benefits programs, deliver employee engagement tools, manage payroll and related processes, and provide data and technology support for workforce decision-making.