Alight (NYSE:ALIT - Get Free Report) posted its earnings results on Tuesday. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.15, FiscalAI reports. Alight had a positive return on equity of 13.04% and a negative net margin of 137.50%.The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $497.02 million.
Alight Stock Performance
NYSE ALIT traded down $2.30 during trading hours on Tuesday, hitting $17.33. The company had a trading volume of 1,159,394 shares, compared to its average volume of 1,319,761. Alight has a fifty-two week low of $9.58 and a fifty-two week high of $101.20. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92. The firm has a market cap of $463.18 million, a P/E ratio of -0.15, a price-to-earnings-growth ratio of 0.36 and a beta of 1.61. The business has a fifty day simple moving average of $16.11 and a 200-day simple moving average of $18.02.
Analyst Ratings Changes
ALIT has been the subject of a number of recent research reports. DA Davidson raised their price objective on shares of Alight from $2.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Weiss Ratings lowered shares of Alight from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Alight from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Three 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $62.57.
Check Out Our Latest Report on Alight
Hedge Funds Weigh In On Alight
Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio bought a new stake in Alight in the first quarter worth about $25,000. Renaissance Technologies LLC acquired a new stake in shares of Alight during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company's stock worth $29,000 after acquiring an additional 3,138 shares in the last quarter. Danske Bank A S acquired a new position in shares of Alight in the 3rd quarter worth $31,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Alight during the third quarter valued at about $37,000. Institutional investors own 96.74% of the company's stock.
About Alight
(
Get Free Report)
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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