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

Alight, Inc. (NYSE:ALIT) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.75.

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

Alight Price Performance

ALIT stock opened at $7.26 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $3.97 billion, a PE ratio of -11.71 and a beta of 0.86. The business’s fifty day moving average price is $7.20 and its 200 day moving average price is $7.90. Alight has a 12-month low of $6.15 and a 12-month high of $10.38.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. The firm had revenue of $787.00 million for the quarter, compared to analyst estimates of $791.22 million. On average, sell-side analysts anticipate that Alight will post 0.42 EPS for the current year.

Insider Buying and Selling

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at $20,482,153.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.33% of the stock is owned by company insiders.

Institutional Trading of Alight

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its holdings in shares of Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after buying an additional 2,961 shares during the period. Motco purchased a new stake in shares of Alight during the first quarter worth $95,000. Ingalls & Snyder LLC lifted its holdings in shares of Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after buying an additional 2,235 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Alight in the second quarter valued at approximately $105,000. Finally, Duality Advisers LP bought a new stake in Alight in the first quarter worth $119,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

About Alight

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.