Alight’s (ALIT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alight (NYSE:ALIT) in a report released on Monday, Benzinga reports. They currently have a $9.00 price objective on the stock.

Several other analysts have also commented on the company. Bank of America cut their price objective on Alight from $10.00 to $9.50 and set a buy rating for the company in a report on Tuesday, June 25th. KeyCorp cut their price target on Alight from $11.00 to $10.00 and set an overweight rating for the company in a report on Thursday, July 11th. Wedbush cut their price target on Alight from $12.00 to $10.00 and set an outperform rating for the company in a report on Thursday, August 8th. Citigroup cut their price target on Alight from $12.00 to $11.00 and set a buy rating for the company in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered Alight from an overweight rating to a neutral rating and set a $8.00 price target for the company. in a report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Alight currently has a consensus rating of Moderate Buy and a consensus price target of $10.75.

Alight Stock Up 0.2 %

Shares of NYSE:ALIT opened at $7.23 on Monday. The stock has a fifty day simple moving average of $7.19 and a two-hundred day simple moving average of $7.87. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -11.65 and a beta of 0.86. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $787.00 million during the quarter, compared to analysts’ expectations of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. On average, research analysts anticipate that Alight will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Katie J. Rooney sold 47,851 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $7.11, for a total value of $340,220.61. Following the completion of the sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ingalls & Snyder LLC increased its holdings in shares of Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after acquiring an additional 2,235 shares during the period. Amalgamated Bank increased its holdings in shares of Alight by 16.2% in the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after acquiring an additional 2,289 shares during the period. Saxon Interests Inc. grew its stake in Alight by 15.4% during the 1st quarter. Saxon Interests Inc. now owns 19,668 shares of the company’s stock worth $194,000 after buying an additional 2,632 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in Alight by 6.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 60,768 shares of the company’s stock worth $518,000 after buying an additional 3,856 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.