Analysts Set Alight, Inc. (NYSE:ALIT) Target Price at $12.71

Shares of Alight, Inc. (NYSE:ALIT) have received an average recommendation of “Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $12.71.

ALIT has been the subject of several recent research reports. Canaccord Genuity Group increased their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. UBS Group raised their price target on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Alight in a research report on Thursday, April 25th. Finally, Needham & Company LLC increased their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st.

Alight Stock Performance

NYSE:ALIT opened at $9.30 on Thursday. Alight has a twelve month low of $6.33 and a twelve month high of $10.38. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $9.27 and its 200 day simple moving average is $8.52. The firm has a market capitalization of $5.24 billion, a PE ratio of -16.91, a price-to-earnings-growth ratio of 1.79 and a beta of 0.94.

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

Insider Transactions at Alight

In related news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the sale, the insider now directly owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katie J. Rooney sold 7,100 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the transaction, the insider now directly owns 2,999,434 shares in the company, valued at $26,994,906. The disclosure for this sale can be found here. Insiders sold a total of 550,129 shares of company stock valued at $12,449,117 in the last quarter. 3.96% of the stock is currently owned by company insiders.

Institutional Trading of Alight

Several hedge funds have recently bought and sold shares of ALIT. Greenlight Capital Inc. bought a new position in Alight in the 4th quarter valued at about $78,831,000. Coronation Fund Managers Ltd. bought a new position in shares of Alight in the first quarter valued at approximately $55,239,000. Norges Bank purchased a new position in shares of Alight during the fourth quarter valued at approximately $42,947,000. Fidelity National Financial Inc. grew its holdings in Alight by 33.3% during the third quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock worth $141,800,000 after buying an additional 5,000,000 shares in the last quarter. Finally, UBS Group AG raised its position in Alight by 1,767.5% in the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock valued at $42,633,000 after buying an additional 4,730,410 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.