Alight (NYSE:ALIT) Rating Increased to Hold at Wall Street Zen

Alight (NYSE:ALITGet Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC downgraded shares of Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. KeyCorp downgraded shares of Alight from an “overweight” rating to a “sector weight” rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research report on Monday. Citigroup downgraded shares of Alight from a “buy” rating to a “neutral” rating and dropped their target price for the company from $6.50 to $1.00 in a research report on Friday, February 20th. Finally, Bank of America assumed coverage on shares of Alight in a research report on Tuesday, February 17th. They set an “underperform” rating and a $1.40 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.56.

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Alight Stock Up 7.8%

Shares of NYSE ALIT opened at $0.71 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.31 and a current ratio of 1.31. Alight has a 52-week low of $0.48 and a 52-week high of $6.11. The company’s 50 day moving average price is $0.74 and its 200-day moving average price is $1.66. The company has a market capitalization of $376.82 million, a P/E ratio of -0.12, a price-to-earnings-growth ratio of 0.20 and a beta of 1.30.

Alight (NYSE:ALITGet Free Report) last released its earnings results on Thursday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Alight had a negative net margin of 136.91% and a positive return on equity of 9.61%. The company had revenue of $653.00 million for the quarter, compared to analyst estimates of $654.30 million. Equities analysts forecast that Alight will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other Alight news, CEO Rohit Verma acquired 112,000 shares of the stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $0.89 per share, for a total transaction of $99,680.00. Following the completion of the acquisition, the chief executive officer owned 1,134,883 shares in the company, valued at approximately $1,010,045.87. This represents a 10.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 242,000 shares of company stock worth $201,280 in the last 90 days. Corporate insiders own 1.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALIT. Royal Bank of Canada raised its holdings in Alight by 3.6% during the first quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock worth $948,000 after buying an additional 5,525 shares during the last quarter. AQR Capital Management LLC acquired a new position in Alight during the first quarter worth $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alight by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock worth $1,481,000 after buying an additional 10,893 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Alight by 1,776.2% during the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock worth $67,000 after buying an additional 10,657 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alight by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock worth $6,091,000 after buying an additional 66,771 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

More Alight News

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Alight Company Profile

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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.

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Analyst Recommendations for Alight (NYSE:ALIT)

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