Alight, Inc. (NYSE:ALIT) Receives Consensus Rating of “Moderate Buy” from Brokerages

by · The Markets Daily

Alight, Inc. (NYSE:ALIT – Get Free Report) has earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $10.75.

Several research firms have issued reports on ALIT. DA Davidson restated a “buy” rating and set a $12.00 price objective on shares of Alight in a report on Thursday, June 20th. KeyCorp reduced their price target on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Wedbush lowered their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup reduced their target price 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. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a report on Tuesday, August 20th.

Get Our Latest Stock Analysis on Alight

Insider Transactions at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of the business’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 owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Alight by 8.1% during the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after buying an additional 2,842,454 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alight by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after acquiring an additional 3,342,413 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Alight by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock worth $187,745,000 after purchasing an additional 331,303 shares during the last quarter. Glenview Capital Management LLC boosted its position in Alight by 11.2% during the fourth quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company’s stock worth $155,263,000 after purchasing an additional 1,835,481 shares during the period. Finally, Wolf Hill Capital Management LP boosted its position in Alight by 28.4% during the first quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock worth $109,309,000 after purchasing an additional 2,454,870 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Trading Down 0.6 %

Alight stock opened at $7.19 on Friday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -11.60 and a beta of 0.86. Alight has a 1 year low of $6.15 and a 1 year high of $10.38. The firm’s 50 day moving average price is $7.19 and its two-hundred day moving average price is $7.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37.

Alight (NYSE:ALIT – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $787.00 million during the quarter, compared to analyst estimates 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 predict that Alight will post 0.42 EPS for the current fiscal year.

Alight Company Profile

(Get Free Report

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.

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