Alight (NYSE:ALIT) Stock Rating Reaffirmed by Wedbush

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

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

Alight Price Performance

Shares of ALIT stock traded down $0.16 on Thursday, reaching $9.00. 390,117 shares of the company were exchanged, compared to its average volume of 6,514,627. The business has a 50-day moving average price of $9.30 and a 200 day moving average price of $8.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.27. Alight has a 1 year low of $6.33 and a 1 year high of $10.38. The company has a market cap of $5.07 billion, a price-to-earnings ratio of -16.35, a P/E/G ratio of 1.80 and a beta of 0.92.

Alight (NYSE:ALIT) last released its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $960.00 million during 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%. Equities research analysts forecast that Alight will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Alight

In other Alight news, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the transaction, the chief executive officer now owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Stephan Scholl sold 83,016 shares of Alight stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the sale, the chief executive officer now owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following the completion of the transaction, the insider now owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,129 shares of company stock valued at $12,449,117. 3.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alight

Several hedge funds have recently made changes to their positions in ALIT. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Alight during the 3rd quarter worth about $1,148,000. Natixis Advisors L.P. grew its holdings in Alight by 81.0% during the 3rd quarter. Natixis Advisors L.P. now owns 323,062 shares of the company’s stock worth $2,290,000 after acquiring an additional 144,573 shares in the last quarter. Walleye Capital LLC grew its holdings in Alight by 229.8% during the 3rd quarter. Walleye Capital LLC now owns 281,509 shares of the company’s stock worth $1,996,000 after acquiring an additional 196,160 shares in the last quarter. Tudor Investment Corp Et Al grew its stake in shares of Alight by 387.1% in the 3rd quarter. Tudor Investment Corp Et Al now owns 385,382 shares of the company’s stock worth $2,732,000 after purchasing an additional 306,257 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Alight in the third quarter worth approximately $52,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.