Alight, Inc. (NYSE:ALIT) Given Consensus Rating of “Buy” by Brokerages

Shares of Alight, Inc. (NYSE:ALIT) have received a consensus rating of “Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $12.71.

Several equities research analysts recently issued reports on ALIT shares. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Alight in a research note on Thursday, April 25th. UBS Group increased their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Canaccord Genuity Group boosted their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Needham & Company LLC increased their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st.

Insider Buying and Selling at Alight

In other news, CEO Stephan Scholl sold 83,016 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at $771,753,903.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the transaction, the chief executive officer now owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The disclosure for this sale can be found here. Insiders have sold 543,029 shares of company stock valued at $12,385,217 in the last 90 days. 3.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alight

Several hedge funds have recently made changes to their positions in ALIT. Greenlight Capital Inc. acquired a new position in Alight in the 4th quarter valued at approximately $78,831,000. Coronation Fund Managers Ltd. bought a new position in Alight in the first quarter worth $55,239,000. Norges Bank bought a new position in Alight in the fourth quarter worth $42,947,000. Fidelity National Financial Inc. boosted its stake in Alight by 33.3% during the third quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock worth $141,800,000 after buying an additional 5,000,000 shares in the last quarter. Finally, UBS Group AG increased its holdings in Alight by 1,767.5% in the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock valued at $42,633,000 after buying an additional 4,730,410 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

Shares of ALIT stock opened at $9.31 on Thursday. Alight has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The stock’s 50-day moving average is $9.27 and its two-hundred day moving average is $8.54. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58.

Alight (NYSE:ALIT) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. As a group, analysts anticipate that Alight will post 0.5 earnings per share for the current 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.