Alight (NYSE:ALIT) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Alight's stock has been given a "sell (D-)" rating by Weiss Ratings, amidst recent downgrades in target prices from multiple brokerages.
• The company reported earnings of $0.10 per share for the last quarter, meeting expectations, but experienced a 1.9% year-over-year decline in revenue.
• Institutional investors control approximately 96.74% of Alight's shares, with several firms significantly increasing their stakes in recent months.

Alight (NYSE:ALIT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently commented on ALIT. Wedbush lowered their target price on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. UBS Group reduced their price objective on Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Needham & Company LLC dropped their price target on Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $8.75.

Alight Stock Performance

Shares of NYSE ALIT traded up $0.05 during trading on Wednesday, hitting $3.28. The company had a trading volume of 2,485,280 shares, compared to its average volume of 7,980,771. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. Alight has a 12 month low of $3.05 and a 12 month high of $8.93. The stock has a 50 day simple moving average of $3.77 and a 200 day simple moving average of $4.88. The firm has a market capitalization of $1.77 billion, a P/E ratio of -1.48 and a beta of 1.02.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The business had revenue of $528.00 million during the quarter, compared to analysts' expectations of $525.26 million. During the same quarter last year, the business posted $0.05 EPS. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, analysts anticipate that Alight will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALIT. Strs Ohio acquired a new position in Alight in the first quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company's stock valued at $29,000 after purchasing an additional 3,138 shares in the last quarter. CWM LLC grew its position in Alight by 364.8% in the first quarter. CWM LLC now owns 5,104 shares of the company's stock valued at $30,000 after purchasing an additional 4,006 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock valued at $31,000 after purchasing an additional 2,348 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Alight by 5,505.8% in the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock valued at $46,000 after acquiring an additional 7,653 shares during the last quarter. Institutional investors 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.

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