Alight (NYSE:ALIT) Lifted to Hold at Zacks Investment Research

Alight (NYSE:ALIT – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Alight Inc. is a cloud-based provider of integrated digital human capital and business solutions. Alight Inc., formerly known as Foley Trasimene Acquisition Corp., is based in LAS VEGAS. “

Separately, Stephens assumed coverage on shares of Alight in a research report on Tuesday, February 8th. They issued an “overweight” rating and a $15.00 target price on the stock.

Shares of Alight stock traded down $0.18 on Tuesday, hitting $7.53. 4,841,966 shares of the company’s stock traded hands, compared to its average volume of 3,124,338. The firm’s 50-day moving average price is $8.95 and its two-hundred day moving average price is $9.75. The stock has a market capitalization of $4.23 billion, a PE ratio of -0.22 and a beta of 0.32. Alight has a one year low of $6.89 and a one year high of $13.34. 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 (NYSE:ALIT – Get Rating) last released its quarterly earnings data on Monday, May 9th. The company reported $0.12 EPS for the quarter. Alight had a negative net margin of 1.69% and a positive return on equity of 6.33%. The business had revenue of $725.00 million during the quarter. On average, analysts forecast that Alight will post 0.55 earnings per share for the current fiscal year.

In other news, Director William P. Foley II sold 350,000 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Foley II sold 100,000 shares of the business’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $10.06, for a total transaction of $1,006,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 752,305 shares of company stock valued at $7,618,465. Insiders own 3.96% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Walleye Capital LLC bought a new stake in shares of Alight during the first quarter worth about $409,000. Mirabella Financial Services LLP boosted its holdings in Alight by 5.3% during the first quarter. Mirabella Financial Services LLP now owns 40,469 shares of the company’s stock worth $403,000 after purchasing an additional 2,040 shares during the last quarter. Quantbot Technologies LP purchased a new position in Alight during the first quarter worth about $49,000. Royal Bank of Canada boosted its holdings in Alight by 1,069.1% during the first quarter. Royal Bank of Canada now owns 21,675 shares of the company’s stock worth $215,000 after purchasing an additional 19,821 shares during the last quarter. Finally, Empyrean Capital Partners LP boosted its holdings in Alight by 11.9% during the first quarter. Empyrean Capital Partners LP now owns 8,637,606 shares of the company’s stock worth $85,944,000 after purchasing an additional 917,000 shares during the last quarter. 66.88% of the stock is owned by institutional investors.

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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