Alight (NYSE:ALIT - Get Free Report) had its price target dropped by Wedbush from $12.00 to $10.00 in a report released on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price target indicates a potential upside of 44.93% from the company's previous close.
A number of other equities research analysts also recently weighed in on the stock. Bank of America dropped their price target on shares of Alight from $10.00 to $9.50 and set a "buy" rating for the company in a research report on Tuesday, June 25th. DA Davidson reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Alight in a report on Thursday, June 20th. Needham & Company LLC reduced their target price on Alight from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, KeyCorp cut their price objective on shares of Alight from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, July 11th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $11.17.
Read Our Latest Analysis on Alight
Alight Stock Performance
ALIT stock traded up $0.11 during trading hours on Thursday, hitting $6.90. 5,229,757 shares of the stock were exchanged, compared to its average volume of 6,255,727. The company has a 50-day simple moving average of $7.30 and a two-hundred day simple moving average of $8.41. The firm has a market capitalization of $3.87 billion, a P/E ratio of -11.18, a P/E/G ratio of 1.28 and a beta of 0.87. Alight has a 12 month low of $6.15 and a 12 month high of $10.38. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.61.
Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, hitting analysts' consensus estimates of $0.07. Alight had a negative net margin of 6.58% and a positive return on equity of 5.35%. The business had revenue of $816.00 million for the quarter, compared to analyst estimates of $832.41 million. On average, analysts forecast that Alight will post 0.52 earnings per share for the current fiscal year.
Insider Buying and Selling at Alight
In other news, COO Katie J. Rooney sold 47,851 shares of the 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 transaction, the chief operating officer now owns 2,880,753 shares of the company's stock, valued at $20,482,153.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.33% of the company's stock.
Institutional Trading of Alight
Hedge funds and other institutional investors have recently modified their holdings of the stock. Xponance Inc. boosted its holdings in shares of Alight by 5.7% during the 4th quarter. Xponance Inc. now owns 25,035 shares of the company's stock valued at $214,000 after acquiring an additional 1,353 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock valued at $58,000 after purchasing an additional 1,897 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in shares of Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company's stock worth $95,000 after purchasing an additional 2,235 shares during the last quarter. FourThought Financial Partners LLC increased its stake in shares of Alight by 10.2% in the fourth quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company's stock valued at $236,000 after buying an additional 2,552 shares during the period. Finally, Saxon Interests Inc. increased its stake in shares of Alight by 15.4% in the first quarter. Saxon Interests Inc. now owns 19,668 shares of the company's stock valued at $194,000 after buying an additional 2,632 shares during the period. 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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