Alight (NYSE:ALIT) Shares Gap Down to $9.29

Alight, Inc. (NYSE:ALIT - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $9.29, but opened at $8.43. Alight shares last traded at $8.04, with a volume of 4,280,350 shares trading hands.

Analyst Ratings Changes

A number of research analysts have commented on ALIT shares. UBS Group boosted their target price on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Wedbush restated an "outperform" rating and issued a $14.00 target price on shares of Alight in a research note on Thursday, April 25th. Canaccord Genuity Group boosted their target price on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Needham & Company LLC boosted their target price on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $12.71.

Alight Stock Performance

The firm has a fifty day simple moving average of $9.27 and a 200 day simple moving average of $8.58. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -14.62, a PEG ratio of 1.81 and a beta of 0.94.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $960.00 million during the quarter, compared to analysts' expectations of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. As a group, sell-side analysts expect that Alight, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at Alight

In other 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 value of $7,894,821.60. Following the completion of the transaction, the chief executive officer now directly owns 8,115,183 shares of the company's stock, valued at approximately $771,753,903.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other 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 value of $7,894,821.60. Following the completion of the transaction, the chief executive officer now directly owns 8,115,183 shares of the company's stock, valued at approximately $771,753,903.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Katie J. Rooney sold 26,164 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total value of $234,167.80. Following the completion of the transaction, the insider now directly owns 2,963,694 shares of the company's stock, valued at $26,525,061.30. The disclosure for this sale can be found here. Insiders sold a total of 543,029 shares of company stock valued at $12,385,217 in the last quarter. Corporate insiders own 3.66% of the company's stock.

Institutional Investors Weigh In On Alight

Large investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Alight during the 3rd quarter worth approximately $1,148,000. Natixis Advisors L.P. boosted its position in Alight by 81.0% in the 3rd quarter. Natixis Advisors L.P. now owns 323,062 shares of the company's stock valued at $2,290,000 after buying an additional 144,573 shares during the last quarter. Walleye Capital LLC boosted its position in Alight by 229.8% in the 3rd quarter. Walleye Capital LLC now owns 281,509 shares of the company's stock valued at $1,996,000 after buying an additional 196,160 shares during the last quarter. Tudor Investment Corp Et Al boosted its position in Alight by 387.1% in the 3rd quarter. Tudor Investment Corp Et Al now owns 385,382 shares of the company's stock valued at $2,732,000 after buying an additional 306,257 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Alight in the 3rd quarter valued at $52,000. 96.74% of the stock is currently owned by 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.