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

Shares of Alight, Inc. (NYSE:ALIT) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $3.5571.

Several equities research analysts have issued reports on ALIT shares. KeyCorp downgraded Alight from an “overweight” rating to a “sector weight” rating in a report on Thursday, February 19th. DA Davidson cut their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Bank of America assumed coverage on shares of Alight in a research note on Tuesday, February 17th. They set an “underperform” rating and a $1.40 target price for the company. Weiss Ratings cut shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Finally, Needham & Company LLC cut shares of Alight from a “buy” rating to a “hold” rating in a research note on Thursday, February 19th.

Insider Activity

In other Alight news, CEO Rohit Verma bought 112,000 shares of Alight stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $0.89 per share, with a total value of $99,680.00. Following the completion of the transaction, the chief executive officer owned 1,134,883 shares in the company, valued at $1,010,045.87. The trade was a 10.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Alight

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares during the period. Strs Ohio bought a new stake in Alight during the first quarter worth about $25,000. Royal Bank of Canada lifted its position in Alight by 3.6% during the first quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock worth $948,000 after purchasing an additional 5,525 shares during the period. HB Wealth Management LLC lifted its position in Alight by 34.5% during the fourth quarter. HB Wealth Management LLC now owns 26,605 shares of the company’s stock worth $52,000 after purchasing an additional 6,817 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Alight by 1.6% during the third quarter. Alliancebernstein L.P. now owns 438,918 shares of the company’s stock worth $1,431,000 after purchasing an additional 7,088 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

Shares of ALIT opened at $0.75 on Friday. The stock has a market capitalization of $399.81 million, a P/E ratio of -0.13, a P/E/G ratio of 0.23 and a beta of 1.60. Alight has a twelve month low of $0.48 and a twelve month high of $6.11. The company has a 50 day moving average of $0.72 and a 200-day moving average of $1.26. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92.

Alight (NYSE:ALIT) last released its earnings results on Tuesday, May 5th. The company reported $0.06 earnings per share 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 business had revenue of $534.00 million during the quarter, compared to analysts’ expectations of $502.74 million. As a group, equities research analysts forecast that Alight will post 0.28 EPS for the current fiscal year.

About Alight

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.