DA Davidson Reiterates “Buy” Rating for Alight (NYSE:ALIT)

Alight (NYSE:ALIT)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $2.00 price target on the stock. DA Davidson’s target price would indicate a potential upside of 228.95% from the stock’s previous close.

Several other equities analysts have also recently weighed in on ALIT. Weiss Ratings cut Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 7th. Wall Street Zen raised Alight from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alight presently has an average rating of “Hold” and an average price target of $3.13.

Alight Stock Performance

ALIT traded up $0.04 during trading on Monday, hitting $0.61. The stock had a trading volume of 4,110,487 shares, compared to its average volume of 27,672,691. The firm has a market cap of $324.98 million, a PE ratio of -0.10, a P/E/G ratio of 0.18 and a beta of 1.60. Alight has a 12 month low of $0.48 and a 12 month high of $6.11. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92. The company has a 50 day simple moving average of $0.74 and a 200-day simple moving average of $1.15.

Alight shares are going to reverse split on the morning of Tuesday, June 30th. The 1-20 reverse split was announced on Thursday, June 18th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 29th.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $534.00 million during the quarter, compared to analysts’ expectations of $502.74 million. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. Analysts expect that Alight will post 0.28 EPS for the current year.

Institutional Trading of Alight

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Alight by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 43,783,776 shares of the company’s stock valued at $85,378,000 after purchasing an additional 1,205,027 shares during the period. Dimensional Fund Advisors LP increased its holdings in Alight by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock valued at $84,558,000 after buying an additional 348,285 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Alight by 87.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock valued at $48,316,000 after buying an additional 11,534,921 shares in the last quarter. Rubric Capital Management LP lifted its holdings in shares of Alight by 10.8% during the 2nd quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock worth $111,089,000 after acquiring an additional 1,906,140 shares during the period. Finally, Cooper Creek Partners Management LLC boosted its position in shares of Alight by 6.6% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock valued at $62,488,000 after acquiring an additional 1,187,092 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Company Profile

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.