Alight, Inc. (NYSE:ALIT) Given Average Rating of “Hold” by Brokerages

Shares of Alight, Inc. (NYSE:ALIT) have been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.5571.

ALIT has been the topic of several recent analyst reports. DA Davidson reduced their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Weiss Ratings downgraded shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Bank of America started coverage on shares of Alight in a research report on Tuesday, February 17th. They set an “underperform” rating and a $1.40 price target on the stock. Finally, Needham & Company LLC downgraded shares of Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th.

Alight Trading Up 0.9%

Shares of Alight stock opened at $0.75 on Friday. The firm has a market capitalization of $399.81 million, a PE ratio of -0.13, a price-to-earnings-growth ratio of 0.23 and a beta of 1.60. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.42 and a quick ratio of 1.42. The company’s fifty day moving average price is $0.72 and its two-hundred day moving average price is $1.26. Alight has a 52-week low of $0.48 and a 52-week high of $6.11.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. The firm had revenue of $534.00 million for the quarter, compared to analyst estimates of $502.74 million. On average, analysts expect that Alight will post 0.28 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Rohit Verma acquired 112,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $0.89 per share, with a total value of $99,680.00. Following the acquisition, the chief executive officer owned 1,134,883 shares of the company’s stock, valued at $1,010,045.87. This trade represents a 10.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Alight

Hedge funds have recently modified their holdings of the company. Strs Ohio acquired a new stake in Alight during the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after buying an additional 3,138 shares during the period. Danske Bank A S acquired a new stake in Alight during the 3rd quarter worth approximately $31,000. Peapack Gladstone Financial Corp acquired a new stake in Alight during the 2nd quarter worth approximately $64,000. Finally, Jones Financial Companies Lllp raised its holdings in Alight by 1,776.2% during the 1st quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock worth $67,000 after buying an additional 10,657 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.