Alight (NYSE:ALIT) Shares Gap Down to $9.29

Alight, Inc. (NYSE:ALIT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $9.29, but opened at $8.43. Alight shares last traded at $8.04, with a volume of 4,280,350 shares trading hands.

Wall Street Analyst Weigh In

ALIT has been the topic of a number of research reports. UBS Group lifted their price target on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Canaccord Genuity Group boosted their price objective on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Needham & Company LLC upped their target price on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Alight in a research note on Thursday, April 25th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.71.

Alight Trading Down 16.9 %

The company has a market cap of $4.35 billion, a price-to-earnings ratio of -14.62, a PEG ratio of 1.81 and a beta of 0.94. 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 business’s 50 day moving average price is $9.27 and its 200-day moving average price is $8.58.

Alight (NYSE:ALIT) last announced its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. On average, equities analysts anticipate that Alight, Inc. will post 0.5 EPS for the current fiscal year.

Insider Transactions at Alight

In other Alight news, insider Katie J. Rooney sold 26,164 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following the transaction, the insider now owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alight news, insider Katie J. Rooney sold 26,164 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total transaction of $234,167.80. Following the sale, the insider now directly owns 2,963,694 shares in the company, valued at $26,525,061.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephan Scholl sold 428,574 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the completion of the transaction, the chief executive officer now owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 543,029 shares of company stock valued at $12,385,217. 3.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Alight during the third quarter worth $52,000. First Horizon Advisors Inc. grew its holdings in shares of Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after purchasing an additional 1,897 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Alight by 86.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company’s stock valued at $86,000 after buying an additional 5,661 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alight in the 3rd quarter valued at approximately $109,000. Finally, Duality Advisers LP acquired a new stake in Alight during the 1st quarter worth approximately $119,000. Institutional investors own 96.74% of the company’s stock.

About Alight

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.