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

Alight, Inc. (NYSE:ALIT) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $52.3333.

ALIT has been the subject of a number of research analyst reports. DA Davidson raised their price objective on Alight from $2.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Alight in a research note on Thursday. Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Citigroup restated a “neutral” rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a research report on Thursday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alight in a research note on Tuesday, August 4th.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Corsair Capital Management L.P. bought a new stake in Alight during the 4th quarter valued at $24,701,000. Goldman Sachs Group Inc. increased its stake 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 period. Wellington Management Group LLP increased its stake 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 period. Millennium Management LLC lifted its stake in Alight by 13,050.9% in the third quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock worth $22,703,000 after acquiring an additional 6,911,229 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Alight by 45,846.2% during the 1st 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. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Down 2.7%

NYSE ALIT opened at $13.40 on Friday. The stock’s 50-day moving average price is $15.69 and its 200-day moving average price is $16.50. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.93. Alight has a 52 week low of $9.58 and a 52 week high of $82.90. The company has a market capitalization of $361.00 million, a P/E ratio of -0.17, a price-to-earnings-growth ratio of 0.29 and a beta of 1.61.

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

Alight Company Profile

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.