Alight (NYSE:ALIT – Get 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.
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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