In yesterday’s Wall Street session, Alight Inc. (NYSE:ALIT) shares traded at $7.58, down -0.79% from the previous session.
As of this writing, 8 analysts cover Alight Inc. (NYSE:ALIT). 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 $12.50. Given the previous closing price of $7.64, this indicates a potential upside of 63.61 percent. ALIT stock price is now -14.65% away from the 50-day moving average and -14.80% away from the 200-day moving average. The market capitalization of the company currently stands at $4.25B.
There are 0 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $12.88 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 14,704,603 shares of the company’s stock on Aug 22. The stock was sold for $117,342,732 at an average price of $7.98. Upon completion of the transaction, the 10% Owner now directly owns 43,602 shares in the company, valued at $0.33 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 22, 10% Owner Blackstone Management Associat sold 14,704,603 shares of the business’s stock. A total of $117,342,732 was realized by selling the stock at an average price of $7.98. This leaves the insider owning 43,602 shares of the company worth $0.33 million. Insiders disposed of 195,431,086 shares of company stock worth roughly $1.48 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 NORGES BANK during the first quarter worth $20,864,000. MAN GROUP PLC invested $20,143,000 in shares of ALIT during the first quarter. In the first quarter, BRIDGEWAY CAPITAL MANAGEMENT, LLC acquired a new stake in Alight Inc. valued at approximately $6,263,000. TWINBEECH CAPITAL LP acquired a new stake in ALIT for approximately $3,307,000. STANLEY CAPITAL MANAGEMENT, LLC purchased a new stake in ALIT valued at around $2,509,000 in the second quarter. In total, there are 281 active investors with 94.90% ownership of the company’s stock.
Friday morning saw Alight Inc. (NYSE: ALIT) opened at $7.71. During the past 12 months, Alight Inc. has had a low of $7.01 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 $8.85 and a two-hundred day moving average price translates $8.89 for the stock.
The latest earnings results from Alight Inc. (NYSE: ALIT) was released for Jun, 2023. The net profit margin was -7.10% and return on equity was -5.30% for ALIT. The company reported revenue of $806.0 million for the quarter, compared to $715.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.73 percent.
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.
