Alight’s (ALIT) Outperform Rating Reaffirmed at Wedbush

Alight (NYSE:ALIT)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $14.00 target price on the stock. Wedbush’s target price points to a potential upside of 55.56% from the stock’s previous close.

Several other analysts have also weighed in on ALIT. Canaccord Genuity Group lifted their target price on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. UBS Group boosted their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Citigroup reiterated a “buy” rating and issued a $12.00 price objective on shares of Alight in a report on Friday, January 5th. Finally, Needham & Company LLC upped their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $12.71.

Alight Stock Down 1.7 %

Shares of ALIT stock traded down $0.16 during mid-day trading on Thursday, hitting $9.00. The company’s stock had a trading volume of 390,117 shares, compared to its average volume of 6,514,627. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.27. The business has a 50-day moving average price of $9.30 and a 200 day moving average price of $8.42. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of -16.35, a PEG ratio of 1.80 and a beta of 0.92. Alight has a 52-week low of $6.33 and a 52-week high of $10.38.

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

Insider Buying and Selling at Alight

In other Alight news, insider Katie J. Rooney sold 7,100 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the sale, the insider now directly owns 2,999,434 shares in the company, valued at $26,994,906. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Stephan Scholl sold 428,574 shares of Alight stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the transaction, the chief executive officer now owns 8,198,199 shares in the company, valued at $80,424,332.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katie J. Rooney sold 7,100 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $9.00, for a total transaction of $63,900.00. Following the completion of the sale, the insider now owns 2,999,434 shares in the company, valued at $26,994,906. The disclosure for this sale can be found here. In the last quarter, insiders have sold 550,129 shares of company stock valued at $12,449,117. 3.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alight

Large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new position in shares of Alight during the 3rd quarter worth approximately $52,000. First Horizon Advisors Inc. raised its position in Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock valued at $58,000 after purchasing an additional 1,897 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Alight by 86.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company’s stock valued at $86,000 after purchasing an additional 5,661 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alight in the 3rd quarter valued at approximately $109,000. Finally, Orion Portfolio Solutions LLC raised its holdings in Alight by 13.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company’s stock worth $123,000 after purchasing an additional 2,082 shares during the period. Institutional investors own 96.74% of the company’s stock.

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.