Q2 2024 EPS Estimates for Alight, Inc. Reduced by Wedbush (NYSE:ALIT)

Alight, Inc. (NYSE:ALIT - Free Report) - Stock analysts at Wedbush decreased their Q2 2024 earnings per share estimates for Alight in a report released on Thursday, April 25th. Wedbush analyst D. Ives now forecasts that the company will post earnings per share of $0.09 for the quarter, down from their previous forecast of $0.10. Wedbush has a "Outperform" rating and a $14.00 price target on the stock. The consensus estimate for Alight's current full-year earnings is $0.50 per share. Wedbush also issued estimates for Alight's Q4 2024 earnings at $0.19 EPS.

Alight (NYSE:ALIT - Get Free Report) 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%.

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

Alight Price Performance

Alight stock traded up $0.11 during mid-day trading on Monday, reaching $9.22. The company had a trading volume of 1,982,529 shares, compared to its average volume of 6,435,572. The business has a fifty day simple moving average of $9.27 and a 200 day simple moving average of $8.48. The company has a market cap of $5.19 billion, a P/E ratio of -16.75, a P/E/G ratio of 1.77 and a beta of 0.92. Alight has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58.

Institutional Trading of Alight

Several large investors have recently modified their holdings of ALIT. DekaBank Deutsche Girozentrale bought a new stake in Alight in the 3rd quarter valued at about $52,000. First Horizon Advisors Inc. increased its holdings in shares of Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock valued at $58,000 after acquiring an additional 1,897 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Alight by 86.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company's stock worth $86,000 after purchasing an additional 5,661 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alight in the 3rd quarter worth $109,000. Finally, Orion Portfolio Solutions LLC grew its position in Alight by 13.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company's stock valued at $123,000 after purchasing an additional 2,082 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Activity at Alight

In other news, insider Katie J. Rooney sold 7,100 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $9.00, for a total transaction of $63,900.00. Following the completion of the sale, the insider now directly owns 2,999,434 shares in the company, valued at $26,994,906. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Katie J. Rooney sold 7,100 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $26,994,906. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katie J. Rooney sold 26,164 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the sale, 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. Insiders have sold 550,129 shares of company stock worth $12,449,117 over the last ninety days. Insiders own 3.66% of the company's stock.

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.