Alight, Inc. (NYSE:ALIT) Given Average Rating of “Moderate Buy” by Brokerages

Alight, Inc. (NYSE:ALIT) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.70.

Several research firms have issued reports on ALIT. KeyCorp decreased their price target on shares of Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. DA Davidson restated a “buy” rating and issued a $6.00 target price on shares of Alight in a report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research report on Wednesday, January 21st. UBS Group decreased their price target on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Wedbush cut their price objective on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th.

Insider Activity

In other Alight news, Director Kausik Rajgopal bought 40,000 shares of Alight stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the completion of the acquisition, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert A. Schriesheim bought 42,098 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was 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. This trade represents a 62.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 193,116 shares of company stock worth $448,984 over the last 90 days. 1.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alight

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in Alight by 289.1% during the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock valued at $45,345,000 after acquiring an additional 10,334,915 shares in the last quarter. Millennium Management LLC grew its position in Alight by 13,050.9% during 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 in the last quarter. Nomura Holdings Inc. acquired a new position in Alight in the 2nd quarter valued at approximately $32,050,000. Norges Bank acquired a new position in Alight in the 2nd quarter valued at approximately $28,596,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Alight during the 3rd quarter valued at $10,232,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Stock Performance

Shares of ALIT opened at $1.62 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50 day moving average is $1.83 and its 200-day moving average is $2.83. Alight has a 12-month low of $1.46 and a 12-month high of $7.66. The stock has a market capitalization of $861.12 million, a P/E ratio of -0.39 and a beta of 1.09.

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.