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

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

ALIT has been the subject of several analyst reports. Wedbush lowered their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. KeyCorp decreased their target price on Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. DA Davidson reissued a “buy” rating and set a $12.00 price objective on shares of Alight in a report on Thursday, June 20th. Citigroup lowered their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Needham & Company LLC cut their price target on Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th.

Insider Buying and Selling at Alight

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were 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 in the company, valued at approximately $20,482,153.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

A number of large investors have recently modified their holdings of ALIT. Nisa Investment Advisors LLC raised its position in Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Alight by 38.9% during the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock valued at $58,000 after buying an additional 1,897 shares in the last quarter. Motco bought a new stake in Alight in the 1st quarter worth approximately $95,000. Ingalls & Snyder LLC boosted its stake in Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in Alight in the second quarter worth approximately $105,000. Institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

Shares of ALIT stock opened at $7.17 on Wednesday. Alight has a 52 week low of $6.15 and a 52 week high of $10.38. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -11.56, a price-to-earnings-growth ratio of 1.77 and a beta of 0.86. The firm has a 50 day moving average of $7.17 and a 200-day moving average of $8.11.

Alight (NYSE:ALIT) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $791.22 million. On average, equities analysts forecast that Alight will post 0.42 earnings per share for the current year.

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.