Brokerages Set Alight, Inc. (NYSE:ALIT) Price Target at $12.00

Shares of Alight, Inc. (NYSE:ALIT) have been assigned an average rating of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $12.00.

Several equities analysts have recently weighed in on ALIT shares. Wedbush reduced their price target on Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Needham & Company LLC reduced their target price on Alight from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. UBS Group boosted their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Canaccord Genuity Group upped their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, DA Davidson reiterated a “buy” rating and issued a $12.00 price objective on shares of Alight in a report on Thursday.

Alight Stock Performance

Shares of ALIT opened at $7.61 on Friday. The firm has a market cap of $4.27 billion, a PE ratio of -12.27, a PEG ratio of 1.24 and a beta of 0.88. The stock’s fifty day moving average price is $8.18 and its two-hundred day moving average price is $8.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57. Alight has a 1 year low of $6.33 and a 1 year high of $10.38.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $832.41 million. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. On average, equities research analysts forecast that Alight will post 0.52 EPS for the current year.

Insider Activity

In other news, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $95.10, for a total value of $7,894,821.60. Following the completion of the sale, the chief executive officer now owns 8,115,183 shares of the company’s stock, valued at approximately $771,753,903.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alight news, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $95.10, for a total value of $7,894,821.60. Following the completion of the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alight

Institutional investors and hedge funds have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Alight in the 3rd quarter valued at approximately $1,148,000. Natixis Advisors L.P. increased its holdings in shares of Alight by 81.0% in the 3rd quarter. Natixis Advisors L.P. now owns 323,062 shares of the company’s stock worth $2,290,000 after purchasing an additional 144,573 shares in the last quarter. Bullseye Asset Management LLC increased its holdings in shares of Alight by 34.1% in the 4th quarter. Bullseye Asset Management LLC now owns 531,425 shares of the company’s stock worth $4,533,000 after purchasing an additional 135,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Alight by 33.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after purchasing an additional 3,018,711 shares in the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of Alight by 229.8% in the 3rd quarter. Walleye Capital LLC now owns 281,509 shares of the company’s stock worth $1,996,000 after purchasing an additional 196,160 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.