Alight (NYSE:ALIT) Price Target Raised to $11.00

Alight (NYSE:ALIT) had its target price boosted by KeyCorp from $10.00 to $11.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on ALIT. Needham & Company LLC upped their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush reduced their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup reduced their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Canaccord Genuity Group upped their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Alight Trading Down 2.0 %

ALIT opened at $7.73 on Wednesday. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -16.10 and a beta of 0.87. The company has a current ratio of 1.30, a quick ratio of 1.37 and a debt-to-equity ratio of 0.46. Alight has a 12 month low of $6.15 and a 12 month high of $10.38. The stock has a fifty day moving average price of $7.28 and a 200-day moving average price of $7.41.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The firm had revenue of $555.00 million during the quarter, compared to analyst estimates of $538.39 million. During the same period in the previous year, the company posted $0.07 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Alight will post 0.42 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Insider Transactions at Alight

In other news, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the sale, the director now owns 883,323 shares in the company, valued at $7,287,414.75. This represents a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

A number of hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in shares of Alight by 20.5% during the first quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock valued at $11,161,000 after acquiring an additional 192,405 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Alight by 15.1% during the second quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock valued at $4,314,000 after acquiring an additional 76,485 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Alight by 28.3% during the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after acquiring an additional 1,358,020 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Alight during the first quarter valued at approximately $4,237,000. Finally, River Road Asset Management LLC raised its holdings in shares of Alight by 2.9% during the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock valued at $73,913,000 after acquiring an additional 286,133 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Company Profile

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.