Alight (NYSE:ALIT) Shares Down 1.3% – What’s Next?

Alight, Inc. (NYSE:ALIT)’s stock price was down 1.3% during trading on Friday . The stock traded as low as $11.84 and last traded at $11.8970. Approximately 370,160 shares were traded during mid-day trading, a decline of 9% from the average session volume of 408,448 shares. The stock had previously closed at $12.05.

Analyst Ratings Changes

A number of analysts have weighed in on ALIT shares. DA Davidson raised their price target on Alight from $2.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Citigroup reaffirmed a “neutral” rating and set a $16.00 price objective (down from $20.00) on shares of Alight in a research report on Thursday, August 20th. Needham & Company LLC reiterated a “hold” rating on shares of Alight in a report on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alight in a research report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.33.

Alight Stock Down 1.3%

The stock has a market cap of $320.51 million, a PE ratio of -0.15, a P/E/G ratio of 0.25 and a beta of 1.56. The business has a 50 day moving average of $16.46 and a 200-day moving average of $15.09. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.93.

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

Institutional Trading of Alight

Large investors have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC raised its holdings in Alight by 57.8% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 5,177,007 shares of the company’s stock worth $10,095,000 after purchasing an additional 1,895,403 shares in the last quarter. Aristides Capital LLC purchased a new stake in Alight in the 4th quarter valued at approximately $186,000. DGS Capital Management LLC purchased a new stake in Alight in the 4th quarter valued at approximately $53,000. Pacer Advisors Inc. acquired a new position in Alight during the 4th quarter worth approximately $8,462,000. Finally, Needham Investment Management LLC increased its position in Alight by 100.0% during the 4th quarter. Needham Investment Management LLC now owns 300,000 shares of the company’s stock worth $585,000 after purchasing an additional 150,000 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.