Alight, Inc. (NYSE:ALIT) Receives Consensus Recommendation of “Buy” from Analysts

Posted by on Aug 1st, 2023

Alight, Inc. (NYSE:ALIT – Get Free Report) has earned an average rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $13.50.

Separately, Citigroup assumed coverage on shares of Alight in a report on Monday, June 12th. They set a “buy” rating and a $12.00 price objective for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Alight by 29.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 26,255,426 shares of the company’s stock valued at $219,495,000 after acquiring an additional 6,017,129 shares during the last quarter. Kinney Asset Management LLC purchased a new stake in shares of Alight in the 4th quarter valued at $33,281,000. Raymond James & Associates boosted its holdings in shares of Alight by 1.4% in the 1st quarter. Raymond James & Associates now owns 541,986 shares of the company’s stock valued at $4,992,000 after acquiring an additional 7,487 shares during the last quarter. Horrell Capital Management Inc. lifted its stake in shares of Alight by 15.9% in the 4th quarter. Horrell Capital Management Inc. now owns 13,770 shares of the company’s stock valued at $115,000 after purchasing an additional 1,885 shares during the period. Finally, Solel Partners LP lifted its stake in shares of Alight by 19.4% in the 4th quarter. Solel Partners LP now owns 4,615,817 shares of the company’s stock valued at $38,588,000 after purchasing an additional 750,000 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Alight Trading Down 0.4 %

Shares of ALIT opened at $9.78 on Tuesday. The firm’s 50-day moving average price is $9.16 and its 200-day moving average price is $9.13. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of -37.59, a PEG ratio of 2.31 and a beta of 0.73. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.56. Alight has a 1-year low of $7.01 and a 1-year high of $10.19.

Alight (NYSE:ALIT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Alight had a negative net margin of 3.68% and a positive return on equity of 3.07%. The business had revenue of $831.00 million for the quarter, compared to analyst estimates of $803.92 million. Sell-side analysts anticipate that Alight will post 0.36 EPS for the current year.

About Alight

(Get Free Report

Alight, Inc provides cloud-based integrated digital human capital and business solutions in the United States and internationally. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.

See Also

Analyst Recommendations for Alight (NYSE:ALIT)

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