Alight (NYSE:ALIT) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of Alight (NYSE:ALIT) in a report published on Tuesday morning. The firm issued an underperform rating and a $1.40 price objective on the stock.

A number of other brokerages have also recently commented on ALIT. UBS Group lowered their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. KeyCorp lowered 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. DA Davidson cut their price objective on Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Wedbush lowered their target price on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.98.

Alight Stock Down 0.8%

ALIT opened at $1.29 on Tuesday. The business’s fifty day moving average is $1.72 and its two-hundred day moving average is $2.63. 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 company has a market cap of $687.83 million, a price-to-earnings ratio of -0.32 and a beta of 1.09. Alight has a one year low of $1.26 and a one year high of $7.66.

Insiders Place Their Bets

In other Alight news, Director Richard N. Massey purchased 100,000 shares of Alight stock in a transaction on Wednesday, November 26th. The shares were bought at an average price of $2.33 per share, with a total value of $233,000.00. Following the purchase, the director directly owned 100,000 shares in the company, valued at $233,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kausik Rajgopal acquired 40,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was acquired at an average cost of $2.24 per share, with a total value of $89,600.00. Following the transaction, the director owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 193,116 shares of company stock valued at $448,984 in the last quarter. 1.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALIT. TradeLink Capital LLC acquired a new position in Alight during the 4th quarter worth approximately $25,000. Strs Ohio purchased a new stake in shares of Alight during the first quarter valued at approximately $25,000. Moss Adams Wealth Advisors LLC purchased a new stake in shares of Alight during the fourth quarter valued at approximately $26,000. Renaissance Technologies LLC acquired a new position in shares of Alight during the fourth quarter worth $26,000. Finally, Allworth Financial LP boosted its stake in shares of Alight by 848.5% in the fourth quarter. Allworth Financial LP now owns 14,920 shares of the company’s stock valued at $29,000 after purchasing an additional 13,347 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

About Alight

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.