Alight (ALIT) Expected to Release Quarterly Earnings on Thursday

Alight (NYSE:ALIT) is expected to post its results before the market opens on Thursday, February 19th. Analysts expect Alight to post earnings of $0.25 per share and revenue of $654.3010 million for the quarter.

Alight Stock Performance

ALIT stock opened at $1.29 on Wednesday. Alight has a twelve month low of $1.26 and a twelve month high of $7.66. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The company has a market cap of $687.83 million, a P/E ratio of -0.32 and a beta of 1.09. The business’s fifty day moving average is $1.72 and its 200-day moving average is $2.63.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALIT shares. KeyCorp cut their target price on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Wedbush cut their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Bank of America assumed coverage on shares of Alight in a report on Tuesday. They set an “underperform” rating and a $1.40 price objective for the company. DA Davidson lowered their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Finally, UBS Group reduced their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.98.

Insider Activity

In related news, Director Robert A. Schriesheim acquired 42,098 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired at an average cost of $2.38 per share, with a total value of $100,193.24. Following the transaction, the director owned 109,130 shares of the company’s stock, valued at $259,729.40. The trade was a 62.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average cost of $2.33 per share, with a total value of $233,000.00. Following the completion of the purchase, the director owned 100,000 shares in the company, valued at approximately $233,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 193,116 shares of company stock worth $448,984 over the last quarter. 1.93% of the stock is currently owned by company insiders.

Institutional Trading of Alight

A number of institutional investors have recently modified their holdings of ALIT. Corsair Capital Management L.P. bought a new position in shares of Alight during the fourth quarter worth about $24,701,000. Goldman Sachs Group Inc. boosted its position in Alight by 87.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock worth $48,316,000 after acquiring an additional 11,534,921 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Alight by 289.1% during the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock worth $45,345,000 after acquiring an additional 10,334,915 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Alight by 13,050.9% in the third quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock valued at $22,703,000 after purchasing an additional 6,911,229 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Alight by 149.3% in the fourth quarter. Squarepoint Ops LLC now owns 6,164,651 shares of the company’s stock valued at $12,021,000 after purchasing an additional 3,691,436 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Alight Company Profile

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.