Alight, Inc. (NYSE:ALIT) Stock Has Consensus Target Price of $49.33

Alight, Inc. (NYSE:ALIT) has been assigned a consensus rating of “Reduce” from the six research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $29.00.

Several research analysts have recently commented on ALIT shares. DA Davidson decreased their price objective on Alight from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Alight in a report on Wednesday, November 4th. Citigroup reiterated a “neutral” rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a research report on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alight in a research note on Monday, November 2nd.

Alight Stock Performance

ALIT opened at $12.23 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.01. The company has a market cap of $329.56 million, a price-to-earnings ratio of -0.32, a PEG ratio of 0.25 and a beta of 1.73. The company’s 50 day moving average is $10.77 and its 200 day moving average is $15.44. Alight has a 12-month low of $7.93 and a 12-month high of $49.40.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, November 3rd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.54. Alight had a negative net margin of 46.04% and a positive return on equity of 15.51%. The business had revenue of $500.00 million during the quarter, compared to analysts’ expectations of $473.74 million. On average, equities research analysts predict that Alight will post 4.41 EPS for the current year.

Insiders Place Their Bets

In other Alight news, Director Richard Massey sold 25,000 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $12.11, for a total value of $302,750.00. Following the completion of the sale, the director owned 71,016 shares in the company, valued at approximately $860,003.76. This represents a 26.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Alight

Several institutional investors have recently made changes to their positions in ALIT. Corient Private Wealth LP lifted its holdings in Alight by 984.0% in the 2nd quarter. Corient Private Wealth LP now owns 334,980 shares of the company’s stock worth $188,000 after purchasing an additional 304,079 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Alight in the 2nd quarter worth approximately $187,000. Squarepoint Ops LLC grew its holdings in Alight by 508.7% during the 2nd quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock valued at $1,021,000 after buying an additional 1,524,070 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Alight during the 2nd quarter valued at approximately $35,000. Finally, Allworth Financial LP grew its holdings in Alight by 116.4% during the 2nd quarter. Allworth Financial LP now owns 64,767 shares of the company’s stock valued at $36,000 after buying an additional 34,844 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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. Alight also provides employee experience and engagement capabilities through platforms such as Alight Worklife, which is designed to give employees access to workplace, benefits and financial information through a unified digital experience.