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

Alight, Inc. (NYSE:ALIT)’s stock price gapped up before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

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

Alight Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a 50 day simple moving average of $8.29 and a two-hundred day simple moving average of $8.68.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. On average, research analysts forecast that Alight, Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at Alight

In related news, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares in the company, valued at $28,394,945.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the transaction, the insider now owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at $771,753,903.30. The disclosure for this sale can be found here. Company insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALIT. DekaBank Deutsche Girozentrale acquired a new position in Alight in the third quarter worth approximately $52,000. First Horizon Advisors Inc. boosted its stake in shares of Alight by 38.9% during the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after acquiring an additional 1,897 shares in the last quarter. Motco acquired a new position in shares of Alight in the 1st quarter worth $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alight during the third quarter worth $109,000. Finally, Duality Advisers LP purchased a new stake in shares of Alight during the first quarter valued at $119,000. 96.74% of the stock is owned by institutional investors and hedge funds.

About Alight

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.