Alight, Inc. (NYSE:ALIT) Given Consensus Recommendation of “Hold” by Brokerages

Alight, Inc. (NYSE:ALIT) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3.5571.

ALIT has been the topic of several research reports. Needham & Company LLC lowered shares of Alight from a “buy” rating to a “hold” rating in a report on Thursday, February 19th. DA Davidson decreased their price objective on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Wedbush dropped their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Citigroup lowered shares of Alight from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.50 to $1.00 in a report on Friday, February 20th. Finally, Wall Street Zen cut shares of Alight from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th.

Alight Price Performance

Shares of Alight stock opened at $0.94 on Friday. The business’s fifty day moving average price is $1.44 and its 200 day moving average price is $2.39. Alight has a twelve month low of $0.65 and a twelve month high of $6.54. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $498.54 million, a P/E ratio of -0.16, a PEG ratio of 0.52 and a beta of 1.16.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $654.30 million. Alight had a positive return on equity of 9.61% and a negative net margin of 136.91%. As a group, research analysts anticipate that Alight will post 0.54 earnings per share for the current year.

Insider Activity at Alight

In related news, CEO Rohit Verma bought 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,022,883 shares of the company’s stock, valued at approximately $787,619.91. This represents a 10.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alight

Several hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new position in Alight during the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after acquiring an additional 3,138 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Alight by 68.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock valued at $46,000 after purchasing an additional 3,300 shares during the period. Danske Bank A S acquired a new position in shares of Alight during the third quarter worth $31,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Alight during the third quarter worth $35,000. 96.74% of the stock is currently owned by hedge funds and other 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.