Brokerages Set Alight, Inc. (NYSE:ALIT) Price Target at $3.56

Alight, Inc. (NYSE:ALIT) has received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $3.5571.

Several brokerages have weighed in on ALIT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a report on Monday. KeyCorp cut shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Needham & Company LLC downgraded shares of Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. Bank of America began coverage on shares of Alight in a research note on Tuesday, February 17th. They set an “underperform” rating and a $1.40 target price on the stock. Finally, Wall Street Zen downgraded shares of Alight from a “hold” rating to a “sell” rating in a report on Saturday, February 28th.

Insider Activity at Alight

In other Alight news, CEO Rohit Verma acquired 112,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $0.89 per share, with a total value of $99,680.00. Following the completion of the purchase, the chief executive officer directly owned 1,134,883 shares in the company, valued at approximately $1,010,045.87. The trade was a 10.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 242,000 shares of company stock valued at $201,280 in the last quarter. 1.93% of the stock is owned by insiders.

Institutional Trading of Alight

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Krilogy Financial LLC lifted its holdings in Alight by 551.2% in the 1st quarter. Krilogy Financial LLC now owns 135,087 shares of the company’s stock worth $87,000 after purchasing an additional 114,343 shares in the last quarter. Evolve Private Wealth LLC bought a new position in Alight in the 1st quarter worth approximately $27,000. Corient Private Wealth LLC grew its holdings in Alight by 58.1% during the 4th quarter. Corient Private Wealth LLC now owns 58,625 shares of the company’s stock valued at $114,000 after buying an additional 21,552 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Alight by 14,961.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 199,106 shares of the company’s stock valued at $388,000 after buying an additional 197,784 shares during the last quarter. Finally, Aristides Capital LLC bought a new stake in shares of Alight during the fourth quarter valued at approximately $186,000. Institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

Shares of ALIT opened at $0.64 on Friday. The business has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $1.68. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.90. Alight has a 52 week low of $0.48 and a 52 week high of $6.11. The stock has a market cap of $343.68 million, a price-to-earnings ratio of -0.11, a PEG ratio of 0.34 and a beta of 1.30.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The company had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $654.30 million. Alight had a negative net margin of 136.91% and a positive return on equity of 9.61%. On average, analysts expect that Alight will post 0.16 EPS for the current 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.