Stocks of Alight Inc. (NYSE:ALIT) traded higher last session on Wall Street, up 1.43% to $9.24.
According to the data, Alight Inc. (NYSE:ALIT) has 8 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $12.00, we find $14.00. Given the previous closing price of $9.11, this indicates a potential upside of 53.68 percent. ALIT stock price is now 4.57% away from the 50-day moving average and 6.16% away from the 200-day moving average. The market capitalization of the company currently stands at $5.13B.
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A total of 0 analysts have issued a hold rating and 8 have given it a buy rating. Brokers who have rated the stock have averaged $13.69 as their price target over the next twelve months.
With the price target of $12, Citigroup recently initiated with Buy rating for Alight Inc. (NYSE: ALIT).
In other news, Blackstone Holdings I/II GP L., 10% Owner sold 28,562,652 shares of the company’s stock on Mar 06. The stock was sold for $248,780,699 at an average price of $8.71. Upon completion of the transaction, the 10% Owner now directly owns 57,028 shares in the company, valued at $0.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 06, 10% Owner Blackstone Management Associat sold 28,562,652 shares of the business’s stock. A total of $248,780,699 was realized by selling the stock at an average price of $8.71. This leaves the insider owning 57,028 shares of the company worth $0.53 million. Insiders disposed of 195,431,086 shares of company stock worth roughly $1.81 billion over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ALIT stock. A new stake in Alight Inc. shares was purchased by BAIN CAPITAL PUBLIC EQUITY MANAGEMENT II, LLC during the first quarter worth $49,621,000. NORGES BANK invested $25,433,000 in shares of ALIT during the first quarter. In the first quarter, AMERIPRISE FINANCIAL INC acquired a new stake in Alight Inc. valued at approximately $17,699,000. MAKENA CAPITAL MANAGEMENT LLC acquired a new stake in ALIT for approximately $12,929,000. BOSTON PARTNERS purchased a new stake in ALIT valued at around $9,800,000 in the second quarter. In total, there are 257 active investors with 94.90% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $9.21 for Alight Inc. (NYSE: ALIT). During the past 12 months, Alight Inc. has had a low of $6.31 and a high of $10.19. As of last week, the company has a debt-to-equity ratio of 0.63, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for ALIT is $8.83 and a two-hundred day moving average price translates $8.71 for the stock.
The latest earnings results from Alight Inc. (NYSE: ALIT) was released for Mar, 2023. According to the Software – Application Company, earnings per share came in at $0.13, beating analysts’ expectations of $0.12 by 0.01. This compares to -$0.03 EPS in the same period last year. The net profit margin was -3.70% and return on equity was -2.70% for ALIT. The company reported revenue of $831.0 million for the quarter, compared to $725.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.62 percent. For the current quarter, analysts expect ALIT to generate $801.6M in revenue.
Alight Inc.(ALIT) Company Profile
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. It offers employer solutions comprises integrated benefits administration, healthcare navigation, financial health, employee wellbeing, and payroll; and professional services, include cloud deployment and consulting offerings that provides human capital and financial platforms, as well as cloud advisory and deployment, and optimization services for cloud platforms, such as Workday, SAP SuccessFactors, Oracle, and Cornerstone OnDemand; hosted business include ongoing application hosting and management of on-premises human capital management software. Alight, Inc. was founded in 2017 and is headquartered in Lincolnshire, Illinois.
