Analysts Set Alight, Inc. (NYSE:ALIT) Target Price at $12.71

Alight, Inc. (NYSE:ALIT) has been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $12.71.

A number of equities research analysts have recently issued reports on ALIT shares. UBS Group upped their price objective on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Alight in a research note on Friday, January 5th. Wedbush upped their price objective on shares of Alight from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. TheStreet upgraded shares of Alight from a “d+” rating to a “c-” rating in a report on Tuesday, December 12th. Finally, Canaccord Genuity Group upped their price target on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st.

Alight Price Performance

ALIT stock opened at $9.49 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27. Alight has a one year low of $6.33 and a one year high of $10.38. The stock has a market cap of $5.34 billion, a PE ratio of -17.25, a P/E/G ratio of 1.45 and a beta of 0.92. The firm has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $8.26.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. The company had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. On average, analysts predict that Alight will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alight news, CEO Stephan Scholl sold 428,574 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at approximately $80,424,332.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alight news, insider Katie J. Rooney sold 26,164 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the completion of the transaction, the insider now directly owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephan Scholl sold 428,574 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the completion of the transaction, the chief executive officer now owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 467,113 shares of company stock worth $4,554,296. 3.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kingdon Capital Management L.L.C. purchased a new stake in shares of Alight in the 4th quarter worth about $7,677,000. HBK Investments L P grew its position in shares of Alight by 33.3% in the 4th quarter. HBK Investments L P now owns 800,000 shares of the company’s stock worth $6,824,000 after buying an additional 200,000 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Alight in the 4th quarter worth about $515,000. Vanguard Group Inc. grew its position in shares of Alight by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock worth $300,247,000 after buying an additional 547,614 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Alight by 25.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,505,079 shares of the company’s stock worth $46,958,000 after buying an additional 1,128,049 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.