DA Davidson Reaffirms Buy Rating for Alight (NYSE:ALIT)

Alight (NYSE:ALIT)‘s stock had its “buy” rating reiterated by DA Davidson in a report issued on Monday,Benzinga reports. They currently have a $6.00 target price on the stock. DA Davidson’s price objective would suggest a potential upside of 186.40% from the company’s current price.

A number of other research firms have also recently issued reports on ALIT. UBS Group lowered their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Finally, Wedbush reduced their target price on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Alight Price Performance

Shares of ALIT traded up $0.06 during trading hours on Monday, hitting $2.10. 7,375,578 shares of the company were exchanged, compared to its average volume of 8,720,140. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -0.51 and a beta of 1.09. The firm’s fifty day moving average is $2.67 and its 200 day moving average is $4.02. Alight has a fifty-two week low of $1.89 and a fifty-two week high of $7.66. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The firm had revenue of $533.00 million for the quarter, compared to analyst estimates of $539.43 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, equities analysts anticipate that Alight will post 0.54 earnings per share for the current fiscal year.

Insider Activity

In other Alight news, Director Robert A. Schriesheim purchased 42,098 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired at an average cost of $2.38 per share, for a total transaction of $100,193.24. Following the completion of the acquisition, the director owned 109,130 shares of the company’s stock, valued at $259,729.40. The trade was a 62.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kausik Rajgopal acquired 40,000 shares of Alight stock in a transaction on Tuesday, November 25th. The stock was acquired at an average price of $2.24 per share, with a total value of $89,600.00. Following the purchase, the director directly owned 125,202 shares in the company, valued at approximately $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 193,116 shares of company stock valued at $448,984 over the last three months. Corporate insiders own 1.93% of the company’s stock.

Institutional Trading of Alight

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock worth $31,000 after purchasing an additional 2,348 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Alight by 152.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after acquiring an additional 3,138 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Alight by 4.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock valued at $411,000 after acquiring an additional 3,295 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Alight by 68.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $46,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Winslow Asset Management Inc. raised its stake in Alight by 21.7% in the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock valued at $110,000 after purchasing an additional 3,450 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.