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

by · The Markets Daily

Alight, Inc. (NYSE:ALIT – Get Free Report) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $3.5571.

A number of research firms recently commented on ALIT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. UBS Group dropped their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Citigroup cut shares of Alight from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $6.50 to $1.00 in a report on Friday, February 20th. Wall Street Zen lowered shares of Alight from a “hold” rating to a “sell” rating in a report on Saturday. Finally, DA Davidson reduced their price objective on Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th.

Read Our Latest Stock Analysis on ALIT

Alight Trading Down 1.3%

NYSE:ALIT opened at $0.89 on Friday. The company has a market capitalization of $474.44 million, a P/E ratio of -0.15, a PEG ratio of 0.49 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.90. Alight has a 12 month low of $0.65 and a 12 month high of $6.57. The firm has a fifty day simple moving average of $1.48 and a 200-day simple moving average of $2.41.

Alight (NYSE:ALIT – Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $654.30 million. Alight had a positive return on equity of 9.61% and a negative net margin of 136.91%. On average, equities research analysts anticipate that Alight will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Rohit Verma purchased 100,000 shares of Alight stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $0.77 per share, for a total transaction of $77,000.00. Following the completion of the transaction, the chief executive officer owned 1,022,883 shares in the company, valued at $787,619.91. The trade was a 10.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alight

A number of large investors have recently bought and sold shares of ALIT. TradeLink Capital LLC acquired a new stake in Alight in the fourth quarter valued at approximately $25,000. Strs Ohio acquired a new position in shares of Alight during the 1st quarter worth approximately $25,000. Moss Adams Wealth Advisors LLC purchased a new position in shares of Alight during the 4th quarter valued at approximately $26,000. Renaissance Technologies LLC purchased a new position in shares of Alight during the 4th quarter valued at approximately $26,000. Finally, Allworth Financial LP grew its stake in Alight by 848.5% in the 4th quarter. Allworth Financial LP now owns 14,920 shares of the company’s stock valued at $29,000 after acquiring an additional 13,347 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

About Alight

(Get Free Report)

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.

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