Alight (NYSE:ALIT) Cut to Sell at Wall Street Zen

Alight (NYSE:ALIT) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. KeyCorp cut Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Wedbush dropped their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Citigroup downgraded shares of Alight from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $6.50 to $1.00 in a research note on Friday, February 20th. Finally, Bank of America started coverage on shares of Alight in a research note on Tuesday, February 17th. They set an “underperform” rating and a $1.40 price target on the stock. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold 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 an average target price of $3.56.

Alight Stock Performance

NYSE ALIT opened at $0.88 on Friday. The company has a market capitalization of $468.15 million, a PE ratio of -0.15, a price-to-earnings-growth ratio of 0.48 and a beta of 1.09. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.21 and a current ratio of 1.31. Alight has a 52-week low of $0.65 and a 52-week high of $6.89. The company has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $2.47.

Alight (NYSE:ALIT) last released its earnings results on Thursday, February 19th. The company reported $0.18 earnings per share 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 during the quarter, compared to analysts’ expectations of $654.30 million. On average, research analysts predict that Alight will post 0.54 EPS for the current year.

Insider Activity at Alight

In other news, CEO Rohit Verma acquired 100,000 shares of Alight stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average price of $0.77 per share, with a total value of $77,000.00. Following the completion of the purchase, the chief executive officer owned 1,022,883 shares in the company, valued at approximately $787,619.91. The trade was a 10.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALIT. TradeLink Capital LLC bought a new stake in shares of Alight in the 4th quarter worth approximately $25,000. Strs Ohio bought a new stake in Alight in the first quarter worth $25,000. Moss Adams Wealth Advisors LLC purchased a new stake in Alight during the fourth quarter valued at about $26,000. Renaissance Technologies LLC purchased a new stake in Alight during the fourth quarter valued at about $26,000. Finally, Allworth Financial LP grew its stake in shares of Alight by 848.5% during the fourth quarter. Allworth Financial LP now owns 14,920 shares of the company’s stock valued at $29,000 after buying an additional 13,347 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.