Alight, Inc. (NYSE:ALIT) Receives $4.70 Consensus Target Price from Brokerages

Alight, Inc. (NYSE:ALIT) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.70.

A number of brokerages have issued reports on ALIT. UBS Group lowered their target price on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Wedbush lowered their price objective on Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. KeyCorp dropped their price objective on shares of Alight from $6.00 to $2.50 and set an “overweight” rating for the company in a report on Thursday, January 8th. Finally, DA Davidson reiterated a “buy” rating and set a $6.00 target price on shares of Alight in a research report on Monday, December 8th.

Insider Transactions at Alight

In other Alight news, Director Kausik Rajgopal acquired 40,000 shares of Alight stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average price of $2.24 per share, with a total value of $89,600.00. Following the completion of the purchase, the director directly owned 125,202 shares in the company, valued at $280,452.48. This trade represents a 46.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert A. Schriesheim bought 42,098 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were bought at an average cost of $2.38 per share, with a total value of $100,193.24. Following the completion of the transaction, the director owned 109,130 shares in the company, valued at $259,729.40. The trade was a 62.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 193,116 shares of company stock worth $448,984. Company insiders own 1.93% of the company’s stock.

Institutional Trading of Alight

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Alight by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock valued at $58,950,000 after buying an additional 135,109 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Alight by 270.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 361,165 shares of the company’s stock worth $2,044,000 after acquiring an additional 263,592 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Alight by 14.0% in the second quarter. Prudential Financial Inc. now owns 1,183,796 shares of the company’s stock worth $6,700,000 after acquiring an additional 145,606 shares in the last quarter. American Century Companies Inc. grew its stake in Alight by 9.2% in the second quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock valued at $42,777,000 after acquiring an additional 637,142 shares during the period. Finally, KLP Kapitalforvaltning AS increased its holdings in shares of Alight by 15.4% during the second quarter. KLP Kapitalforvaltning AS now owns 97,600 shares of the company’s stock valued at $552,000 after acquiring an additional 13,000 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Performance

NYSE ALIT opened at $1.62 on Monday. The firm’s fifty day moving average price is $1.83 and its two-hundred day moving average price is $2.87. The stock has a market cap of $861.12 million, a PE ratio of -0.39 and a beta of 1.09. Alight has a fifty-two week low of $1.46 and a fifty-two week high of $7.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The firm had revenue of $533.00 million during the quarter, compared to the consensus estimate of $539.43 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. On average, equities analysts expect that Alight will post 0.54 EPS for the current fiscal year.

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.