Wedbush slashes price target on Alight Inc. [ALIT] – find out why.

Alight Inc. [NYSE: ALIT] loss -1.80% on the last trading session, reaching $9.81 price per share at the time. The company report on March 6, 2023 that Alight Announces Closing of Upsized Secondary Offering of Common Stock and Full Exercise of Over-Allotment Option.

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Alight, Inc. (“Alight” or the “Company”) (NYSE: ALIT), a leading cloud-based human capital technology and services provider, today announced the closing of the upsized underwritten secondary public offering of 52,900,000 shares of Alight’s Class A common stock (the “offering”) by certain funds affiliated with Blackstone Inc., Jasmine Ventures Pte. Ltd., certain funds affiliated with New Mountain Capital and Platinum Falcon B 2018 RSC Ltd. (collectively, the “Selling Stockholders”) at a public price of $9.00 per share, which includes the full exercise of the underwriters’ option to purchase an additional 6,900,000 shares of Alight’s Class A common stock. Alight did not sell any shares of Class A common stock in the offering and did not receive any proceeds from the offering.

In addition, concurrently with the offering, the Company closed the previously announced repurchase from the Selling Stockholders, in privately negotiated transactions, pursuant to a repurchase agreement of an aggregate of 1,148,435 shares of Class A Common Stock at a price equal to the price per share at which the underwriters purchased shares of the Company’s Class A common stock from the Selling Stockholders in the offering.

Alight Inc. represents 461.63 million in outstanding shares, while the company has a total market value of $5.24 billion with the latest information. ALIT stock price has been found in the range of $9.81 to $10.10.

If compared to the average trading volume of 3.00M shares, ALIT reached a trading volume of 9342252 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Alight Inc. [ALIT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALIT shares is $13.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALIT stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Alight Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 09, 2022. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on December 06, 2022, representing the official price target for Alight Inc. stock. Previously, the target price had yet another raise to $15, while KeyBanc Capital Markets analysts kept a Overweight rating on ALIT stock.

The Average True Range (ATR) for Alight Inc. is set at 0.35, with the Price to Sales ratio for ALIT stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 0.47. Price to Free Cash Flow for ALIT in the course of the last twelve months was 37.96 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for ALIT stock

Alight Inc. [ALIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.93. With this latest performance, ALIT shares gained by 0.31% in over the last four-week period, additionally plugging by 28.57% over the last 6 months – not to mention a drop of -0.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALIT stock in for the last two-week period is set at 56.18, with the RSI for the last a single of trading hit 55.84, and the three-weeks RSI is set at 56.36 for Alight Inc. [ALIT]. The present Moving Average for the last 50 days of trading for this stock 9.15, while it was recorded at 9.66 for the last single week of trading, and 8.24 for the last 200 days.

Alight Inc. [ALIT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Alight Inc. [ALIT] shares currently have an operating margin of -0.45 and a Gross Margin at +20.98. Alight Inc.’s Net Margin is presently recorded at -1.98.

Return on Equity for this stock declined to -1.45, with Return on Assets sitting at -0.56.

Alight Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Alight Inc. [ALIT]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alight Inc. go to -3.72%.

An analysis of insider ownership at Alight Inc. [ALIT]

There are presently around $4,474 million, or 94.90% of ALIT stock, in the hands of institutional investors. The top three institutional holders of ALIT stocks are: CANNAE HOLDINGS, INC. with ownership of 52,477,062, which is approximately 0% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKSTONE INC., holding 45,572,872 shares of the stock with an approximate value of $447.07 million in ALIT stocks shares; and FPR PARTNERS LLC, currently with $316.31 million in ALIT stock with ownership of nearly 3.865% of the company’s market capitalization.

Positions in Alight Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 121 institutional holders increased their position in Alight Inc. [NYSE:ALIT] by around 44,002,038 shares. Additionally, 62 investors decreased positions by around 22,887,738 shares, while 22 investors held positions by with 389,159,132 shares. The mentioned changes placed institutional holdings at 456,048,908 shares, according to the latest SEC report filing. ALIT stock had 44 new institutional investments in for a total of 14,272,671 shares, while 15 institutional investors sold positions of 3,630,797 shares during the same period.


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