Alight (NYSE:ALIT - Free Report) had its target price reduced by Citigroup from $12.00 to $11.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.
Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of Alight from an overweight rating to a neutral rating and set a $8.00 price target for the company. in a research report on Tuesday, August 20th. Bank of America reduced their price target on Alight from $10.00 to $9.50 and set a buy rating on the stock in a research report on Tuesday, June 25th. KeyCorp lowered their price objective on Alight from $11.00 to $10.00 and set an overweight rating for the company in a research report on Thursday, July 11th. DA Davidson restated a buy rating and issued a $12.00 target price on shares of Alight in a report on Thursday, June 20th. Finally, Needham & Company LLC decreased their target price on shares of Alight from $11.00 to $9.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $10.75.
Read Our Latest Analysis on Alight
Alight Price Performance
ALIT traded up $0.11 during midday trading on Thursday, hitting $7.37. The stock had a trading volume of 3,022,666 shares, compared to its average volume of 6,062,391. Alight has a 1 year low of $6.15 and a 1 year high of $10.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. The business has a fifty day moving average of $7.17 and a 200 day moving average of $8.20. The company has a market cap of $4.03 billion, a P/E ratio of -11.89, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87.
Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. The firm had revenue of $787.00 million during the quarter, compared to analyst estimates of $791.22 million. As a group, equities analysts forecast that Alight will post 0.42 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Alight news, COO Katie J. Rooney sold 47,851 shares of the firm's stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $7.11, for a total value of $340,220.61. Following the completion of the sale, the chief operating officer now directly owns 2,880,753 shares in the company, valued at $20,482,153.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.33% of the company's stock.
Hedge Funds Weigh In On Alight
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Greenlight Capital Inc. purchased a new stake in shares of Alight in the 4th quarter worth approximately $78,831,000. Rubric Capital Management LP bought a new position in shares of Alight during the second quarter valued at $62,162,000. Coronation Fund Managers Ltd. purchased a new position in shares of Alight in the 1st quarter worth about $55,239,000. Norges Bank bought a new stake in Alight during the 4th quarter valued at about $42,947,000. Finally, UBS Group AG raised its holdings in Alight by 1,767.5% in the fourth quarter. UBS Group AG now owns 4,998,050 shares of the company's stock worth $42,633,000 after buying an additional 4,730,410 shares during the last quarter. Institutional investors own 96.74% of the company's stock.
Alight Company Profile
(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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