Alight (ALIT) Projected to Post Quarterly Earnings on Thursday

Alight (NYSE:ALIT) is anticipated to release its results before the market opens on Thursday, February 19th. Analysts expect Alight to post earnings of $0.25 per share and revenue of $654.3010 million for the quarter.

Alight Stock Down 3.4%

ALIT stock opened at $1.30 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $1.73 and its 200 day moving average price is $2.66. Alight has a 52 week low of $1.29 and a 52 week high of $7.66. The company has a market cap of $690.49 million, a P/E ratio of -0.32 and a beta of 1.09.

Insider Transactions at Alight

In other news, Director Robert A. Schriesheim bought 42,098 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average price of $2.38 per share, for a total transaction of $100,193.24. Following the completion of the transaction, the director owned 109,130 shares in the company, valued at $259,729.40. The trade was a 62.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Massey purchased 100,000 shares of Alight stock in a transaction on Wednesday, November 26th. The shares were acquired at an average cost of $2.33 per share, for a total transaction of $233,000.00. Following the purchase, the director owned 100,000 shares in the company, valued at approximately $233,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 193,116 shares of company stock worth $448,984 over the last ninety days. 1.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alight

Several large investors have recently added to or reduced their stakes in ALIT. Strs Ohio acquired a new position in shares of Alight during the 1st quarter valued at about $25,000. Renaissance Technologies LLC purchased a new stake in Alight in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its position in Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares during the last quarter. Danske Bank A S acquired a new position in Alight during the third quarter worth approximately $31,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Alight during the third quarter worth approximately $37,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. DA Davidson lowered their price target on Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. UBS Group decreased their target price on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. KeyCorp lowered their target price on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, January 21st. Finally, Wedbush decreased their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Alight presently has an average rating of “Moderate Buy” and an average price target of $4.50.

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.