Alight, Inc. (NYSE:ALIT) Given Average Recommendation of “Moderate Buy” by Brokerages

Alight, Inc. (NYSE:ALIT) has earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $10.75.

A number of brokerages have recently issued reports on ALIT. Needham & Company LLC lowered their price target on Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Citigroup reduced their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wedbush cut their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. KeyCorp cut their target price on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, August 20th.

Insider Buying and Selling at Alight

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $7.11, for a total value of $340,220.61. Following the completion of the sale, the chief operating officer now directly owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alight

Several institutional investors have recently bought and sold shares of ALIT. Campbell & CO Investment Adviser LLC grew its stake in Alight by 6.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 60,768 shares of the company’s stock worth $518,000 after buying an additional 3,856 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Alight in the fourth quarter valued at approximately $4,265,000. Sage Rock Capital Management LP raised its position in Alight by 37.5% during the fourth quarter. Sage Rock Capital Management LP now owns 55,000 shares of the company’s stock worth $469,000 after acquiring an additional 15,000 shares during the period. Neuberger Berman Group LLC raised its position in shares of Alight by 18.3% during the 4th quarter. Neuberger Berman Group LLC now owns 28,359 shares of the company’s stock worth $242,000 after purchasing an additional 4,385 shares during the last quarter. Finally, Cruiser Capital Advisors LLC lifted its position in shares of Alight by 129.9% in the fourth quarter. Cruiser Capital Advisors LLC now owns 93,808 shares of the company’s stock valued at $800,000 after acquiring an additional 53,000 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Price Performance

ALIT opened at $7.26 on Friday. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -11.71 and a beta of 0.86. The stock has a fifty day simple moving average of $7.20 and a two-hundred day simple moving average of $7.90. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $787.00 million during the quarter, compared to analyst estimates of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. Research analysts predict that Alight will post 0.42 earnings per share for the current fiscal year.

About Alight

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.