Brokerages Set Alight, Inc. (NYSE:ALIT) Target Price at $52.33

Shares of Alight, Inc. (NYSE:ALIT) have been assigned an average rating of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $52.3333.

A number of research firms have recently issued reports on ALIT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alight in a research report on Tuesday, August 4th. Citigroup reissued a “neutral” rating and set a $16.00 target price (down from $20.00) on shares of Alight in a report on Thursday, August 20th. Needham & Company LLC reissued a “hold” rating on shares of Alight in a research report on Thursday, August 20th. Finally, DA Davidson raised their target price on shares of Alight from $2.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd.

Alight Price Performance

Shares of ALIT opened at $11.93 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.93. The company’s fifty day simple moving average is $15.62 and its 200 day simple moving average is $14.88. Alight has a 1-year low of $9.58 and a 1-year high of $67.70. The company has a market cap of $321.39 million, a price-to-earnings ratio of -0.15, a PEG ratio of 0.25 and a beta of 1.56.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. Alight had a negative net margin of 90.90% and a positive return on equity of 16.05%. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $497.02 million. On average, research analysts forecast that Alight will post 4.12 earnings per share for the current fiscal year.

Institutional Trading of Alight

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its position in shares of Alight by 508.7% in the second quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock valued at $1,021,000 after acquiring an additional 1,524,070 shares during the period. Allworth Financial LP raised its stake in Alight by 116.4% in the 2nd quarter. Allworth Financial LP now owns 64,767 shares of the company’s stock worth $36,000 after purchasing an additional 34,844 shares in the last quarter. Corient Private Wealth LP grew its position in shares of Alight by 984.0% during the 2nd quarter. Corient Private Wealth LP now owns 334,980 shares of the company’s stock worth $188,000 after purchasing an additional 304,079 shares in the last quarter. Angeles Wealth Management LLC boosted its stake in shares of Alight by 1,948.1% in the second quarter. Angeles Wealth Management LLC now owns 315,400 shares of the company’s stock valued at $177,000 after buying an additional 300,000 shares during the period. Finally, Wellington Management Group LLP grew its position in Alight by 15.3% during the second quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock worth $2,779,000 after buying an additional 656,746 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

About Alight

Alight, Inc provides cloud-based human capital and business solutions designed to help employers manage employee-related programs and administrative processes. Its offerings support areas such as payroll, human resources, employee benefits, workforce management, and employee financial and physical wellbeing.

The company’s platform and services are used by organizations to administer benefits programs, deliver employee engagement tools, manage payroll and related processes, and provide data and technology support for workforce decision-making.