Alight, Inc. (ALIT) – What Are Analysts Saying About This Stock?

Alight, Inc. (NYSE:ALIT) has received a consensus rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $49.33.

A number of research analysts recently commented on ALIT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Alight in a research note on Monday. Citigroup restated a “neutral” rating and set a $16.00 price target (down from $20.00) on shares of Alight in a research report on Thursday, August 20th. DA Davidson dropped their price target on Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Alight in a report on Thursday, August 20th.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Alight by 45,846.2% during the first quarter. Renaissance Technologies LLC now owns 6,018,948 shares of the company’s stock worth $3,507,000 after acquiring an additional 6,005,848 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Alight by 15.3% in the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock worth $2,779,000 after acquiring an additional 656,746 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Alight by 5.5% in the 1st quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock worth $1,239,000 after acquiring an additional 110,456 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Alight by 508.7% in the 2nd quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock valued at $1,021,000 after purchasing an additional 1,524,070 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Alight by 6.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,471,750 shares of the company’s stock valued at $858,000 after purchasing an additional 91,534 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Price Performance

Shares of NYSE:ALIT opened at $10.16 on Wednesday. The company’s fifty day moving average price is $10.95 and its 200-day moving average price is $15.91. The firm has a market capitalization of $273.74 million, a price-to-earnings ratio of -0.13, a PEG ratio of 0.17 and a beta of 1.73. Alight has a one year low of $7.93 and a one year high of $57.00. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.42 and a quick ratio of 1.42.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.54. Alight had a negative net margin of 90.90% and a positive return on equity of 16.05%. The firm had revenue of $500.00 million for the quarter, compared to analysts’ expectations of $473.74 million. On average, equities research analysts anticipate that Alight will post 4.92 earnings per share for the current fiscal year.

About Alight

Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.

Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.