Q2 2024 EPS Estimates for Alight, Inc. Lowered by Wedbush (NYSE:ALIT)

Alight, Inc. (NYSE:ALIT) – Investment analysts at Wedbush cut their Q2 2024 earnings per share estimates for Alight in a research report issued on Thursday, April 25th. Wedbush analyst D. Ives now expects that the company will post earnings of $0.09 per share for the quarter, down from their previous estimate of $0.10. Wedbush has a “Outperform” rating and a $14.00 price objective on the stock. The consensus estimate for Alight’s current full-year earnings is $0.50 per share. Wedbush also issued estimates for Alight’s Q4 2024 earnings at $0.19 EPS.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. The firm had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC boosted their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Alight in a research note on Friday, January 5th. Canaccord Genuity Group raised their price target on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, UBS Group boosted their price target on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alight presently has a consensus rating of “Buy” and a consensus price target of $12.71.

Alight Stock Performance

ALIT opened at $9.11 on Monday. The company’s 50 day moving average price is $9.28 and its two-hundred day moving average price is $8.46. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of -16.56, a PEG ratio of 1.77 and a beta of 0.92. Alight has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27.

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALIT. Vanguard Group Inc. lifted its holdings in shares of Alight by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock valued at $300,247,000 after purchasing an additional 547,614 shares in the last quarter. Fidelity National Financial Inc. grew its position in Alight by 11.5% in the 4th quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock worth $190,219,000 after purchasing an additional 2,300,000 shares in the last quarter. Glenview Capital Management LLC increased its stake in Alight by 11.2% in the 4th quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company’s stock valued at $155,263,000 after buying an additional 1,835,481 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Alight by 33.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after buying an additional 3,018,711 shares during the last quarter. Finally, River Road Asset Management LLC grew its holdings in shares of Alight by 2.9% in the fourth quarter. River Road Asset Management LLC now owns 9,360,406 shares of the company’s stock valued at $79,844,000 after acquiring an additional 263,242 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Stephan Scholl sold 428,574 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the sale, the chief executive officer now directly owns 8,198,199 shares in the company, valued at approximately $80,424,332.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at approximately $80,424,332.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The disclosure for this sale can be found here. Insiders sold 550,129 shares of company stock worth $12,449,117 in the last quarter. 3.96% of the stock is owned by corporate insiders.

About Alight

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.