Alight (NYSE:ALIT) Earns “Buy” Rating from DA Davidson

Alight (NYSE:ALIT)‘s stock had its “buy” rating restated by DA Davidson in a report issued on Wednesday,Benzinga reports. They currently have a $10.00 price target on the stock. DA Davidson’s price objective would suggest a potential upside of 60.64% from the stock’s previous close.

A number of other analysts have also issued reports on ALIT. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a research note on Monday. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Alight in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.19.

Alight Stock Up 0.4 %

ALIT opened at $6.23 on Wednesday. The business’s fifty day simple moving average is $6.58 and its 200 day simple moving average is $7.02. Alight has a 52 week low of $5.87 and a 52 week high of $10.04. The firm has a market cap of $3.38 billion, a P/E ratio of -20.75 and a beta of 0.94. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. As a group, equities research analysts anticipate that Alight will post 0.54 EPS for the current fiscal year.

Insider Activity at Alight

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $6.39 per share, with a total value of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert A. Schriesheim bought 22,092 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now owns 22,092 shares of the company’s stock, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 125,092 shares of company stock valued at $807,755 in the last quarter. Insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank boosted its position in Alight by 5.0% during the 3rd quarter. Swiss National Bank now owns 792,100 shares of the company’s stock worth $5,862,000 after acquiring an additional 38,000 shares during the period. Intech Investment Management LLC bought a new stake in shares of Alight during the 3rd quarter worth about $795,000. Charles Schwab Investment Management Inc. grew its holdings in Alight by 16.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,898,593 shares of the company’s stock valued at $36,250,000 after purchasing an additional 699,375 shares during the last quarter. FMR LLC raised its holdings in Alight by 44.4% in the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after acquiring an additional 3,689 shares during the period. Finally, Rubric Capital Management LP boosted its stake in Alight by 38.3% during the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock valued at $86,185,000 after purchasing an additional 3,223,617 shares during the period. Institutional investors and hedge funds 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.