Brokerages Set Alight, Inc. (NYSE:ALIT) PT at $4.70

Alight, Inc. (NYSE:ALIT) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $4.70.

Several research analysts recently issued reports on ALIT shares. Wedbush cut their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. UBS Group cut their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. KeyCorp reduced their target price on Alight from $6.00 to $2.50 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Finally, DA Davidson reiterated a “buy” rating and issued a $6.00 price target on shares of Alight in a report on Monday, December 8th.

Insider Activity at Alight

In other Alight news, Director Robert A. Schriesheim acquired 42,098 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were purchased at an average cost of $2.38 per share, with a total value of $100,193.24. Following the completion of the purchase, the director owned 109,130 shares of the company’s stock, valued at approximately $259,729.40. This represents a 62.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kausik Rajgopal acquired 40,000 shares of Alight stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average price of $2.24 per share, with a total value of $89,600.00. Following the completion of the acquisition, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. The trade was a 46.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 193,116 shares of company stock valued at $448,984. 1.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Argos Wealth Advisors LLC purchased a new stake in Alight in the 4th quarter valued at about $298,000. Pacific Ridge Capital Partners LLC bought a new position in shares of Alight in the fourth quarter valued at approximately $441,000. TradeLink Capital LLC purchased a new stake in shares of Alight during the fourth quarter valued at approximately $25,000. Ballentine Partners LLC bought a new stake in Alight during the fourth quarter worth $54,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Alight in the fourth quarter worth $44,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Stock Up 4.2%

Shares of Alight stock opened at $1.60 on Monday. The firm has a market cap of $850.45 million, a price-to-earnings ratio of -0.39 and a beta of 1.09. The stock’s 50-day moving average is $1.86 and its 200 day moving average is $2.91. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21. Alight has a one year low of $1.46 and a one year high of $7.66.

Alight (NYSE:ALIT) last posted its quarterly earnings results 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). The business had revenue of $533.00 million for the quarter, compared to the consensus estimate of $539.43 million. Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.Alight’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities research analysts anticipate that Alight will post 0.54 EPS for the current year.

About Alight

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.