Alight, Inc. (NYSE:ALIT – Get Free Report)’s share price traded down 1.3% on Friday . The stock traded as low as $11.84 and last traded at $11.8970. 370,160 shares were traded during trading, a decline of 9% from the average daily volume of 408,448 shares. The stock had previously closed at $12.05.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ALIT shares. DA Davidson upped their target price on Alight from $2.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Alight in a research report on Tuesday, August 4th. Needham & Company LLC restated a “hold” rating on shares of Alight in a research report on Thursday, August 20th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a research note on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.33.
Check Out Our Latest Analysis on ALIT
Alight Stock Down 1.3%
Alight (NYSE:ALIT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.15. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $497.02 million. Alight had a positive return on equity of 16.05% and a negative net margin of 90.90%. Analysts forecast that Alight, Inc. will post 4.12 earnings per share for the current year.
Hedge Funds Weigh In On Alight
Several large investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in Alight during the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after buying an additional 3,138 shares in the last quarter. Danske Bank A S bought a new position in shares of Alight in the third quarter worth approximately $31,000. Peapack Gladstone Financial Corp purchased a new stake in shares of Alight during the second quarter valued at approximately $64,000. Finally, Jones Financial Companies Lllp increased its position in shares of Alight by 1,776.2% during the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after acquiring an additional 10,657 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.
About Alight
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.
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