Alight (NYSE:ALIT) Shares Gap Up to $7.26

Alight, Inc. (NYSE:ALITGet Free Report)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $7.26, but opened at $7.55. Alight shares last traded at $7.61, with a volume of 587,766 shares traded.

Wall Street Analyst Weigh In

ALIT has been the topic of a number of analyst reports. UBS Group lifted their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. KeyCorp decreased their price target on Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Wedbush decreased their price target on Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Canaccord Genuity Group boosted their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Needham & Company LLC reduced their target price on Alight from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $12.00.

View Our Latest Research Report on Alight

Alight Stock Performance

The company has a 50 day moving average of $8.33 and a two-hundred day moving average of $8.69. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61.

Alight (NYSE:ALITGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $832.41 million. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. As a group, equities analysts anticipate that Alight, Inc. will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alight news, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $95.10, for a total value of $7,894,821.60. Following the sale, the chief executive officer now directly owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now directly owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephan Scholl sold 83,016 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $95.10, for a total value of $7,894,821.60. Following the transaction, the chief executive officer now directly owns 8,115,183 shares in the company, valued at $771,753,903.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 516,865 shares of company stock valued at $12,151,049. 5.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALIT. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Alight in the third quarter worth about $1,148,000. Natixis Advisors L.P. increased its position in Alight by 81.0% in the third quarter. Natixis Advisors L.P. now owns 323,062 shares of the company’s stock worth $2,290,000 after buying an additional 144,573 shares in the last quarter. Bullseye Asset Management LLC boosted its stake in Alight by 34.1% during the fourth quarter. Bullseye Asset Management LLC now owns 531,425 shares of the company’s stock valued at $4,533,000 after buying an additional 135,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Alight by 33.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock valued at $103,826,000 after buying an additional 3,018,711 shares during the last quarter. Finally, Walleye Capital LLC boosted its stake in Alight by 229.8% during the third quarter. Walleye Capital LLC now owns 281,509 shares of the company’s stock valued at $1,996,000 after buying an additional 196,160 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

About Alight

(Get Free Report)

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.

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