Alight (ALIT) Projected to Post Earnings on Thursday

Alight (NYSE:ALIT) will likely be issuing its results before the market opens on Thursday, February 19th. Analysts expect the company to announce earnings of $0.25 per share and revenue of $654.3010 million for the quarter.

Alight Stock Down 7.2%

Shares of ALIT stock opened at $1.40 on Thursday. Alight has a 1 year low of $1.36 and a 1 year high of $7.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The business’s fifty day moving average is $1.78 and its 200-day moving average is $2.77. The stock has a market cap of $747.01 million, a PE ratio of -0.34 and a beta of 1.09.

Insiders Place Their Bets

In related news, Director Kausik Rajgopal acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the transaction, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This trade represents a 46.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert A. Schriesheim bought 42,098 shares of the stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average cost of $2.38 per share, with a total value of $100,193.24. Following the completion of the purchase, the director directly owned 109,130 shares in the company, valued at approximately $259,729.40. This trade represents a 62.80% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 193,116 shares of company stock valued at $448,984. 1.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alight

Hedge funds have recently modified their holdings of the company. Strs Ohio bought a new position in Alight during the first quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its position in Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after buying an additional 3,138 shares during the last quarter. Danske Bank A S purchased a new position in shares of Alight during the 3rd quarter valued at $31,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Alight during the 3rd quarter valued at $37,000. Finally, Nicolet Advisory Services LLC bought a new position in shares of Alight during the 3rd quarter worth $40,000. Institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group cut their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. DA Davidson cut their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday. KeyCorp decreased their price target on shares of Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Wedbush cut their price objective on Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Alight has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.