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

Alight (NYSE:ALIT)‘s stock had its “buy” rating reiterated by equities researchers at DA Davidson in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $6.00 price objective on the stock. DA Davidson’s price target suggests a potential upside of 183.69% from the company’s previous close.

A number of other research firms have also recently commented on ALIT. UBS Group reduced their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Wedbush reduced their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alight presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.25.

Alight Price Performance

Shares of NYSE ALIT opened at $2.12 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average price is $2.63 and its two-hundred day moving average price is $3.98. The company has a market cap of $1.13 billion, a PE ratio of -0.52 and a beta of 1.09. Alight has a twelve month low of $1.89 and a twelve month high of $7.66.

Alight (NYSE:ALIT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $533.00 million during the quarter, compared to analyst estimates of $539.43 million. Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, analysts predict that Alight will post 0.54 EPS for the current year.

Insider Activity at Alight

In related news, Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $2.33 per share, for a total transaction of $233,000.00. Following the completion of the purchase, the director owned 100,000 shares in the company, valued at approximately $233,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kausik Rajgopal acquired 40,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the purchase, the director owned 125,202 shares in the company, valued at approximately $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 193,116 shares of company stock worth $448,984. Company insiders own 1.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALIT. Wellington Management Group LLP lifted its position in Alight by 289.1% during the third quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock worth $45,345,000 after purchasing an additional 10,334,915 shares during the period. Millennium Management LLC raised its position in shares of Alight by 13,050.9% in the 3rd quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock valued at $22,703,000 after buying an additional 6,911,229 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Alight in the 2nd quarter valued at approximately $32,050,000. Norges Bank bought a new stake in shares of Alight during the 2nd quarter worth approximately $28,596,000. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Alight during the 3rd quarter worth approximately $10,232,000. 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.