Alight, Inc. (NYSE:ALIT) Given Average Rating of “Hold” by Analysts

Alight, Inc. (NYSE:ALIT) has received an average recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.5571.

ALIT has been the subject of a number of recent research reports. KeyCorp cut Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. DA Davidson reduced their price target on Alight from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Bank of America began coverage on Alight in a research report on Tuesday, February 17th. They issued an “underperform” rating and a $1.40 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Alight from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th.

Alight Price Performance

Shares of NYSE ALIT opened at $0.67 on Tuesday. The company has a 50 day simple moving average of $1.19 and a two-hundred day simple moving average of $2.11. Alight has a fifty-two week low of $0.63 and a fifty-two week high of $6.31. The company has a market capitalization of $358.65 million, a price-to-earnings ratio of -0.11, a P/E/G ratio of 0.37 and a beta of 1.17. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.31 and a current ratio of 1.31.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The company had revenue of $653.00 million during the quarter, compared to the consensus estimate of $654.30 million. Alight had a positive return on equity of 9.61% and a negative net margin of 136.91%. Analysts expect that Alight will post 0.54 EPS for the current fiscal year.

Insider Activity

In other news, CEO Rohit Verma purchased 112,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of $0.89 per share, for a total transaction of $99,680.00. Following the completion of the acquisition, the chief executive officer directly owned 1,134,883 shares in the company, valued at $1,010,045.87. This represents a 10.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 242,000 shares of company stock valued at $201,280 in the last 90 days. Corporate insiders own 1.93% of the company’s stock.

Institutional Trading of Alight

Several institutional investors have recently added to or reduced their stakes in ALIT. Corsair Capital Management L.P. bought a new stake in shares of Alight in the 4th quarter worth $24,701,000. Goldman Sachs Group Inc. boosted its position in shares of Alight by 87.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock valued at $48,316,000 after buying an additional 11,534,921 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Alight by 289.1% during the third quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock valued at $45,345,000 after buying an additional 10,334,915 shares during the last quarter. Millennium Management LLC increased its holdings in Alight by 13,050.9% in the 3rd quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock worth $22,703,000 after buying an additional 6,911,229 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Alight in the 2nd quarter worth about $32,050,000. 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.