Alight, Inc. (NYSE:ALIT) to Post Q1 2024 Earnings of $0.08 Per Share, Wedbush Forecasts

Alight, Inc. (NYSE:ALIT) – Analysts at Wedbush dropped their Q1 2024 EPS estimates for shares of Alight in a report released on Thursday, April 25th. Wedbush analyst D. Ives now expects that the company will post earnings of $0.08 per share for the quarter, down from their prior estimate of $0.10. Wedbush currently has a “Outperform” rating and a $14.00 price objective 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 Q3 2024 earnings at $0.14 EPS, Q1 2025 earnings at $0.13 EPS, Q3 2025 earnings at $0.14 EPS and FY2025 earnings at $0.59 EPS.

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

Alight Price Performance

ALIT stock opened at $9.10 on Friday. Alight has a 52 week low of $6.33 and a 52 week high of $10.38. The firm’s 50-day moving average is $9.29 and its two-hundred day moving average is $8.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.27.

Alight (NYSE:ALIT) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion.

Institutional Trading of Alight

A number of institutional investors have recently added to or reduced their stakes in the business. Kirr Marbach & Co. LLC IN lifted its stake in Alight by 2.1% in the first quarter. Kirr Marbach & Co. LLC IN now owns 690,453 shares of the company’s stock valued at $6,801,000 after acquiring an additional 13,882 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Alight by 31.0% in the first quarter. Raymond James & Associates now owns 593,955 shares of the company’s stock worth $5,850,000 after buying an additional 140,681 shares during the last quarter. Saxon Interests Inc. lifted its stake in shares of 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 buying an additional 2,632 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Alight in the first quarter worth $354,000. Finally, Kingdon Capital Management L.L.C. acquired a new stake in shares of Alight in the fourth quarter worth $7,677,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alight

In related news, CEO Stephan Scholl sold 428,574 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the transaction, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at $80,424,332.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alight news, CEO Stephan Scholl sold 428,574 shares of Alight stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the sale, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katie J. Rooney sold 2,777 shares of Alight stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,129 shares of company stock valued at $12,449,117. Corporate insiders own 3.96% of the company’s stock.

About Alight

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.