Alight, Inc. (NYSE:ALIT) Receives Average Rating of “Buy” from Brokerages (2024)

Posted by ABMN Staff on Apr 7th, 2024

Alight, Inc. (NYSE:ALIT – Get Free Report) has earned an average rating of “Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $12.71.

A number of research analysts have weighed in on the company. Citigroup restated a “buy” rating and issued a $12.00 price target on shares of Alight in a research note on Friday, January 5th. Needham & Company LLC boosted their target price on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. TheStreet raised shares of Alight from a “d+” rating to a “c-” rating in a research report on Tuesday, December 12th. Wedbush lifted their price objective on shares of Alight from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Finally, UBS Group upped their target price on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st.

Check Out Our Latest Research Report on Alight

Alight Stock Performance

Shares of ALIT opened at $9.40 on Friday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of -17.09, a PEG ratio of 1.43 and a beta of 0.92. Alight has a 12 month low of $6.33 and a 12 month high of $10.38. The firm has a fifty day simple moving average of $9.29 and a 200 day simple moving average of $8.22. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58.

Alight (NYSE:ALIT – Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. Research analysts forecast that Alight will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at Alight

In related news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total transaction of $234,167.80. Following the completion of the sale, the insider now owns 2,963,694 shares of the company’s stock, valued at approximately $26,525,061.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following the completion of the sale, the insider now directly owns 2,963,694 shares of the company’s stock, valued at approximately $26,525,061.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Katie J. Rooney sold 7,100 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the sale, the insider now owns 2,999,434 shares of the company’s stock, valued at $26,994,906. The disclosure for this sale can be found here. Insiders have sold a total of 467,113 shares of company stock worth $4,554,296 over the last ninety days. Insiders own 3.96% of the company’s stock.

Institutional Trading of Alight

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. increased its position in shares of Alight by 65.8% in the first quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after purchasing an additional 1,875 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Alight in the 1st quarter valued at approximately $121,000. Natixis Advisors L.P. lifted its holdings in shares of Alight by 20.1% during the 1st quarter. Natixis Advisors L.P. now owns 166,182 shares of the company’s stock worth $1,653,000 after acquiring an additional 27,810 shares during the period. Rhumbline Advisers acquired a new stake in shares of Alight during the 1st quarter worth approximately $129,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Alight during the 1st quarter worth approximately $569,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Company Profile

(Get Free Report

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.