Alight (NYSE:ALIT) Posts Earnings Results

Alight (NYSE:ALIT) posted its quarterly earnings data on Tuesday. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.15, FiscalAI reports. Alight had a positive return on equity of 15.06% and a negative net margin of 90.90%.The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $497.02 million.

Alight Price Performance

ALIT stock traded up $0.55 during trading on Thursday, hitting $14.98. The company had a trading volume of 93,975 shares, compared to its average volume of 1,316,499. Alight has a fifty-two week low of $9.58 and a fifty-two week high of $89.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $400.34 million, a price-to-earnings ratio of -0.19, a P/E/G ratio of 0.36 and a beta of 1.61. The business has a 50 day moving average of $16.05 and a 200 day moving average of $17.80.

Institutional Trading of Alight

A number of hedge funds have recently bought and sold shares of the company. Amundi acquired a new stake in shares of Alight in the fourth quarter worth $40,000. Blair William & Co. IL purchased a new stake in Alight in the 4th quarter worth about $48,000. MML Investors Services LLC acquired a new stake in shares of Alight during the 4th quarter valued at $46,000. Quadrant Capital Group LLC boosted its position in Alight by 958.4% during the fourth quarter. Quadrant Capital Group LLC now owns 21,063 shares of the company’s stock valued at $41,000 after purchasing an additional 19,073 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in Alight in the fourth quarter valued at about $44,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ALIT shares. Weiss Ratings restated a “sell (e+)” rating on shares of Alight in a report on Tuesday. Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, DA Davidson boosted their price target on Alight from $2.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alight presently has a consensus rating of “Hold” and a consensus price target of $53.00.

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.