Alight (ALIT) to Post Quarterly Earnings on Tuesday

Key Points

• Alight is expected to report quarterly results after Tuesday’s market close, with analysts forecasting earnings of $0.75 per share and revenue of approximately $497.1 million.
• Shares opened at $19.72, while analyst sentiment remains mixed: the stock has an average “Hold” rating and an average price target of $62.57.
• Institutional investors own a substantial 96.74% of Alight’s shares, with several firms—including Royal Bank of Canada, UBS Asset Management and Mirae Asset—recently increasing their positions.

Alight (NYSE:ALIT - Get Free Report) is expected to issue its results after the market closes on Tuesday, August 4th. Analysts expect Alight to post earnings of $0.75 per share and revenue of $497.0980 million for the quarter.

Alight Price Performance

Shares of NYSE:ALIT opened at $19.72 on Tuesday. The company has a market cap of $526.99 million, a P/E ratio of -0.17, a P/E/G ratio of 0.40 and a beta of 1.66. The business has a fifty day simple moving average of $15.84 and a 200-day simple moving average of $18.53. Alight has a 52 week low of $9.58 and a 52 week high of $116.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALIT. Weiss Ratings lowered shares of Alight from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, May 7th. DA Davidson lifted their price target on shares of Alight from $2.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Alight from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $62.57.

Hedge Funds Weigh In On Alight

A number of institutional investors have recently added to or reduced their stakes in ALIT. Royal Bank of Canada increased its position in shares of Alight by 3.6% during the first quarter. Royal Bank of Canada now owns 159,901 shares of the company's stock worth $948,000 after acquiring an additional 5,525 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Alight during the 1st quarter valued at approximately $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alight by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company's stock worth $1,481,000 after buying an additional 10,893 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Alight by 1,776.2% in the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company's stock valued at $67,000 after acquiring an additional 10,657 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alight by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company's stock worth $6,091,000 after acquiring an additional 66,771 shares in the last quarter. Institutional investors and hedge funds 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.

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