Alight (NYSE:ALIT) Earns Buy Rating from DA Davidson

Alight (NYSE:ALIT)‘s stock had its “buy” rating reissued by DA Davidson in a research report issued on Wednesday,Benzinga reports. They currently have a $10.00 price target on the stock. DA Davidson’s price objective points to a potential upside of 62.21% from the stock’s previous close.

A number of other analysts have also commented on ALIT. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Alight in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and a consensus target price of $10.19.

Alight Price Performance

NYSE ALIT traded down $0.03 on Wednesday, reaching $6.17. 206,701 shares of the stock traded hands, compared to its average volume of 5,432,036. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -20.57 and a beta of 0.94. The firm’s fifty day simple moving average is $6.60 and its 200 day simple moving average is $7.03. Alight has a 12 month low of $5.87 and a 12 month high of $10.04.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. As a group, research analysts predict that Alight will post 0.54 EPS for the current fiscal year.

Insider Activity

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 125,092 shares of company stock worth $807,755 in the last ninety days. Corporate insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALIT. California State Teachers Retirement System increased its position in Alight by 3.8% during the fourth quarter. California State Teachers Retirement System now owns 399,862 shares of the company’s stock worth $2,767,000 after acquiring an additional 14,657 shares during the period. Palogic Value Management L.P. raised its holdings in Alight by 13.5% in the 4th quarter. Palogic Value Management L.P. now owns 420,000 shares of the company’s stock valued at $2,906,000 after acquiring an additional 50,000 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Alight in the 4th quarter worth approximately $893,000. Public Employees Retirement System of Ohio raised its stake in shares of Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock valued at $49,000 after purchasing an additional 2,059 shares in the last quarter. Finally, Alpine Global Management LLC boosted its stake in Alight by 16.7% during the fourth quarter. Alpine Global Management LLC now owns 175,000 shares of the company’s stock worth $1,211,000 after buying an additional 25,000 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Company Profile

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.