Alight (NYSE:ALIT) Updates FY 2022 Earnings Guidance

Alight (NYSE:ALITGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $0.54-$0.60 for the period, compared to the consensus EPS estimate of $0.56. The company issued revenue guidance of $3.09 billion-$3.12 billion, compared to the consensus revenue estimate of $3.11 billion.Alight also updated its FY 2023 guidance to EPS.

Several research analysts have weighed in on ALIT shares. Stephens initiated coverage on shares of Alight in a research note on Tuesday, February 8th. They issued an overweight rating and a $15.00 price objective on the stock. Zacks Investment Research downgraded shares of Alight from a hold rating to a sell rating in a report on Thursday.

Shares of NYSE:ALIT opened at $8.08 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.16 and a quick ratio of 1.16. Alight has a 1 year low of $6.89 and a 1 year high of $13.34. The stock’s fifty day moving average price is $9.04 and its 200-day moving average price is $9.88. The company has a market cap of $4.54 billion, a P/E ratio of -0.24 and a beta of 0.32.

Alight (NYSE:ALITGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported $0.12 earnings per share for the quarter. Alight had a positive return on equity of 6.33% and a negative net margin of 1.69%. The company had revenue of $725.00 million during the quarter. On average, sell-side analysts anticipate that Alight will post 0.55 earnings per share for the current year.

In other Alight news, Director William P. Foley II sold 350,000 shares of the company’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $10.10, for a total transaction of $3,535,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard N. Massey purchased 50,000 shares of Alight stock in a transaction dated Friday, March 11th. The stock was bought at an average price of $8.92 per share, for a total transaction of $446,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 752,305 shares of company stock valued at $7,618,465 over the last quarter. 3.96% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in ALIT. Vanguard Group Inc. raised its stake in Alight by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 23,604,625 shares of the company’s stock valued at $234,866,000 after purchasing an additional 2,828,903 shares during the period. Permian Investment Partners LP purchased a new stake in Alight during the first quarter worth about $21,890,000. Goldman Sachs Group Inc. boosted its holdings in shares of Alight by 101.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,377,619 shares of the company’s stock valued at $14,892,000 after acquiring an additional 695,128 shares during the period. Loomis Sayles & Co. L P increased its position in Alight by 14.6% during the 1st quarter. Loomis Sayles & Co. L P now owns 2,209,735 shares of the company’s stock worth $21,987,000 after purchasing an additional 281,189 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Alight during the 3rd quarter worth about $2,286,000. Institutional investors and hedge funds own 66.88% of the company’s stock.

About Alight (Get Rating)

Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.

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