Brokerages Set Alight, Inc. (NYSE:ALIT) PT at $52.33

Alight, Inc. (NYSE:ALIT) has received an average rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two 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 target among brokers that have updated their coverage on the stock in the last year is $52.3333.

ALIT has been the subject of several analyst reports. DA Davidson increased their target price on Alight from $2.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alight in a research note on Tuesday, August 4th. Citigroup reiterated a “neutral” rating and issued a $16.00 price objective (down from $20.00) on shares of Alight in a research report on Thursday, August 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Alight in a report on Thursday, August 20th.

Alight Price Performance

ALIT opened at $11.78 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $317.41 million, a P/E ratio of -0.15, a PEG ratio of 0.25 and a beta of 1.56. The stock has a 50-day moving average price of $15.79 and a 200-day moving average price of $14.94. Alight has a 12-month low of $9.58 and a 12-month high of $69.00.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $497.02 million. Alight had a negative net margin of 90.90% and a positive return on equity of 16.05%. Equities analysts predict that Alight will post 4.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alight

Hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC grew its holdings in shares of Alight by 508.7% during the 2nd quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock worth $1,021,000 after acquiring an additional 1,524,070 shares during the period. Allworth Financial LP lifted its holdings in shares of Alight by 116.4% during the second quarter. Allworth Financial LP now owns 64,767 shares of the company’s stock valued at $36,000 after purchasing an additional 34,844 shares in the last quarter. Corient Private Wealth LP raised its holdings in shares of Alight by 984.0% during the second quarter. Corient Private Wealth LP now owns 334,980 shares of the company’s stock valued at $188,000 after purchasing an additional 304,079 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in shares of Alight by 1,948.1% in the second quarter. Angeles Wealth Management LLC now owns 315,400 shares of the company’s stock worth $177,000 after acquiring an additional 300,000 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Alight by 15.3% during the second quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock valued at $2,779,000 after buying an additional 656,746 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Company Profile

Alight, Inc provides cloud-based human capital and business solutions designed to help employers manage employee-related programs and administrative processes. Its offerings support areas such as payroll, human resources, employee benefits, workforce management, and employee financial and physical wellbeing.

The company’s platform and services are used by organizations to administer benefits programs, deliver employee engagement tools, manage payroll and related processes, and provide data and technology support for workforce decision-making.