Alight (NYSE:ALIT) Issues FY 2022 Earnings Guidance

Alight (NYSE:ALITGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.54-$0.60 for the period, compared to the consensus earnings per share 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.

NYSE:ALIT opened at $8.81 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. The business has a 50 day moving average of $8.67 and a 200 day moving average of $9.56. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of -0.26 and a beta of 0.33. Alight has a 1-year low of $6.89 and a 1-year high of $13.34.

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

Several analysts recently issued reports on the company. Stephens began coverage on Alight in a research report on Tuesday, February 8th. They set an overweight rating and a $15.00 target price for the company. Zacks Investment Research upgraded Alight from a sell rating to a hold rating in a report on Tuesday, May 24th.

In other news, Director Richard N. Massey acquired 50,000 shares of the business’s stock in a transaction on Friday, March 11th. The stock was bought at an average cost of $8.92 per share, for a total transaction of $446,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William P. Foley II sold 302,305 shares of the business’s stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of $10.18, for a total value of $3,077,464.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 752,305 shares of company stock valued at $7,618,465. 3.96% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Alight by 13.6% in the first quarter. Vanguard Group Inc. now owns 23,604,625 shares of the company’s stock valued at $234,866,000 after buying an additional 2,828,903 shares during the last quarter. BlackRock Inc. increased its stake in shares of Alight by 3.0% during the 4th quarter. BlackRock Inc. now owns 3,457,000 shares of the company’s stock worth $37,370,000 after purchasing an additional 101,802 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Alight by 14.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 2,209,735 shares of the company’s stock worth $21,987,000 after acquiring an additional 281,189 shares during the period. Permian Investment Partners LP acquired a new position in shares of Alight in the 1st quarter valued at $21,890,000. Finally, Invesco Ltd. lifted its holdings in shares of Alight by 13.8% during the 1st quarter. Invesco Ltd. now owns 2,159,341 shares of the company’s stock valued at $21,485,000 after acquiring an additional 261,552 shares in the last quarter. Institutional investors 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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