Alight Inc. (NYSE:ALIT) shares traded -3.25% lower at $6.54 on Wall Street last session.
In accordance with the data, 7 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 $14.00 and a low of $12.00, we find $12.00. Given the previous closing price of $6.76, this indicates a potential upside of 77.51 percent. ALIT stock price is now -17.91% away from the 50-day moving average and -25.36% away from the 200-day moving average. The market capitalization of the company currently stands at $3.25B.
It has been rated a hold by 0 analysts and a buy by 7. Brokers who have rated the stock have averaged $12.57 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 $0.29 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 $0.29 million. Insiders disposed of 247,309,624 shares of company stock worth roughly $1.62 billion over the past 1 year. A total of 28.61% 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 $18,001,000. MAN GROUP PLC invested $17,379,000 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 $5,403,000. TWINBEECH CAPITAL LP acquired a new stake in ALIT for approximately $2,854,000. STANLEY CAPITAL MANAGEMENT, LLC purchased a new stake in ALIT valued at around $2,164,000 in the second quarter.
Alight Inc. (NYSE: ALIT) opened at $6.81 on Wednesday. During the past 12 months, Alight Inc. has had a low of $6.76 and a high of $10.19. As of last week, the company has a debt-to-equity ratio of 0.66, a current ratio of 1.21, and a quick ratio of 1.21. The fifty day moving average price for ALIT is $7.90 and a two-hundred day moving average price translates $8.75 for the stock.
The latest earnings results from Alight Inc. (NYSE: ALIT) was released for Jun, 2023. According to the Software – Application Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.12 by 0.02. This compares to $0.10 EPS in the same period last year. The net profit margin was -7.12% and return on equity was -5.37% 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. For the current quarter, analysts expect ALIT to generate $829.05M in revenue.
Alight Inc.(ALIT) Company Profile
Alight, Inc. provides cloud-based integrated digital human capital and business solutions worldwide. Its solutions enable employees to enrich their health, wealth, and wellbeing that helps organizations achieve a high-performance culture. The company is based in Lincolnshire, Illinois.
