Alight (NYSE:ALIT) Rating Reiterated by Wedbush

Wedbush reaffirmed their outperform rating on shares of Alight (NYSE:ALIT - Free Report) in a report released on Thursday morning, Benzinga reports. Wedbush currently has a $14.00 target price on the stock.

Other equities analysts also recently issued reports about the company. UBS Group raised 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. Citigroup restated a buy rating and set a $12.00 price objective on shares of Alight in a research report on Friday, January 5th. Canaccord Genuity Group raised 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. Finally, Needham & Company LLC raised 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. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Alight currently has a consensus rating of Buy and an average target price of $12.71.

Alight Stock Performance

ALIT stock traded down $0.06 during trading hours on Thursday, hitting $9.10. 2,791,680 shares of the stock were exchanged, compared to its average volume of 6,545,915. The company has a 50-day simple moving average of $9.29 and a two-hundred day simple moving average of $8.42. The firm has a market capitalization of $5.12 billion, a P/E ratio of -16.55, a P/E/G ratio of 1.80 and a beta of 0.92. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. Alight has a 12 month low of $6.33 and a 12 month high of $10.38.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. On average, analysts forecast that Alight will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alight news, insider Katie J. Rooney sold 7,100 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the sale, the insider now owns 2,999,434 shares of the company's stock, valued at $26,994,906. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alight news, insider Katie J. Rooney sold 7,100 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the sale, the insider now owns 2,999,434 shares of the company's stock, valued at $26,994,906. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value of $234,167.80. Following the transaction, the insider now directly owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 550,129 shares of company stock worth $12,449,117. 3.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Xponance Inc. boosted its position in shares of Alight by 5.7% during the fourth quarter. Xponance Inc. now owns 25,035 shares of the company's stock valued at $214,000 after buying an additional 1,353 shares during the last quarter. First Horizon Advisors Inc. boosted its position 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 buying an additional 1,897 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Alight by 13.7% during the third quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company's stock valued at $123,000 after buying an additional 2,082 shares during the last quarter. FourThought Financial Partners LLC boosted its position in Alight by 10.2% in the fourth quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company's stock worth $236,000 after purchasing an additional 2,552 shares during the last quarter. Finally, Saxon Interests Inc. boosted its position in Alight by 15.4% in the first quarter. Saxon Interests Inc. now owns 19,668 shares of the company's stock worth $194,000 after purchasing an additional 2,632 shares during the last quarter. Hedge funds and other institutional investors own 96.74% 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.