Alight, Inc. (NYSE:ALIT) Receives $12.71 Average PT from Analysts

Alight, Inc. (NYSE:ALIT) has received an average rating of “Buy” from the seven analysts that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $12.71.

Several research firms recently commented on ALIT. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Alight in a report on Thursday, April 25th. UBS Group boosted their price target on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Needham & Company LLC increased their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Canaccord Genuity Group boosted their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st.

Alight Price Performance

Shares of Alight stock opened at $9.30 on Thursday. Alight has a 52 week low of $6.33 and a 52 week high of $10.38. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The stock has a market cap of $5.24 billion, a PE ratio of -16.91, a price-to-earnings-growth ratio of 1.79 and a beta of 0.94. The company’s 50-day moving average price is $9.27 and its two-hundred day moving average price is $8.52.

Alight (NYSE:ALIT) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $960.00 million during the quarter, compared to analyst estimates of $1.03 billion. As a group, sell-side analysts anticipate that Alight will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $95.10, for a total value of $7,894,821.60. Following the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katie J. Rooney sold 2,777 shares of the business’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 directly owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 550,129 shares of company stock worth $12,449,117. Corporate insiders own 3.96% of the company’s stock.

Institutional Investors Weigh In On Alight

Several hedge funds and other institutional investors have recently made changes to their positions in ALIT. Xponance Inc. boosted its stake in Alight by 5.7% during the 4th quarter. Xponance Inc. now owns 25,035 shares of the company’s stock valued at $214,000 after purchasing an additional 1,353 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Alight by 38.9% in the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock valued at $58,000 after acquiring an additional 1,897 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of Alight by 13.7% in the third quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company’s stock valued at $123,000 after acquiring an additional 2,082 shares during the period. FourThought Financial Partners LLC grew its stake in shares of Alight by 10.2% in the fourth quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company’s stock worth $236,000 after acquiring an additional 2,552 shares during the last quarter. Finally, Saxon Interests Inc. increased its position in Alight by 15.4% during the first quarter. Saxon Interests Inc. now owns 19,668 shares of the company’s stock worth $194,000 after acquiring an additional 2,632 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Company Profile

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.