Alight, Inc. (NYSE:ALIT) Receives $10.75 Consensus PT from Analysts

Shares of Alight, Inc. (NYSE:ALIT) have been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $10.75.

Several research firms have recently issued reports on ALIT. Citigroup lowered their price objective on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a report on Tuesday, August 20th. DA Davidson reiterated a “buy” rating and set a $12.00 price target on shares of Alight in a research note on Thursday, June 20th. KeyCorp decreased their price objective on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Bank of America cut their target price on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research report on Tuesday, June 25th.

Alight Price Performance

Shares of NYSE ALIT opened at $7.31 on Friday. The stock’s 50-day moving average is $7.18 and its two-hundred day moving average is $7.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -11.79 and a beta of 0.86. Alight has a 1-year low of $6.15 and a 1-year high of $10.38.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $787.00 million for the quarter, compared to the consensus estimate of $791.22 million. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. Analysts forecast that Alight will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the company’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 transaction of $340,220.61. Following the completion of the sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at $20,482,153.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

Several institutional investors have recently bought and sold shares of ALIT. Greenlight Capital Inc. acquired a new stake in shares of Alight in the 4th quarter worth $78,831,000. Rubric Capital Management LP purchased a new position in Alight during the second quarter worth about $62,162,000. Coronation Fund Managers Ltd. acquired a new stake in Alight in the first quarter valued at about $55,239,000. Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 3,342,413 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Alight by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock worth $374,707,000 after purchasing an additional 2,842,454 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Company Profile

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.