Alight (NYSE:ALIT) PT Lowered to $11.00

Alight (NYSE:ALIT - Get Free Report) had its price target lowered by stock analysts at KeyCorp from $12.00 to $11.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price target suggests a potential upside of 43.04% from the stock's current price.

A number of other equities analysts also recently issued reports on the stock. UBS Group increased 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. Wedbush reiterated an "outperform" rating and issued a $14.00 price target on shares of Alight in a report on Thursday, April 25th. Needham & Company LLC cut their price target on shares of Alight from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday. Finally, Canaccord Genuity Group increased 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 data from MarketBeat, Alight has a consensus rating of "Buy" and a consensus target price of $12.29.

Alight Stock Performance

NYSE:ALIT traded down $0.09 during trading hours on Thursday, reaching $7.69. 20,116,636 shares of the company's stock were exchanged, compared to its average volume of 6,677,401. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -13.80, a P/E/G ratio of 1.81 and a beta of 0.94. The company has a 50-day moving average of $9.24 and a 200 day moving average of $8.57. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. Alight has a 1-year low of $6.33 and a 1-year high of $10.38.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. The company had revenue of $960.00 million during the quarter, compared to analysts' expectations of $1.03 billion. Research analysts anticipate that Alight will post 0.5 EPS for the current year.

Insider Buying and Selling at Alight

In other news, CEO Stephan Scholl sold 83,016 shares of Alight stock in a transaction dated Monday, April 8th. The shares were 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 directly owns 8,115,183 shares in the company, valued at $771,753,903.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Katie J. Rooney sold 2,777 shares of Alight stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now directly owns 2,927,314 shares in the company, valued at $28,394,945.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephan Scholl sold 83,016 shares of Alight 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 sale, the chief executive officer now owns 8,115,183 shares of the company's stock, valued at $771,753,903.30. The disclosure for this sale can be found here. In the last three months, insiders sold 543,029 shares of company stock worth $12,385,217. 3.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alight

Hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. boosted its position in shares of Alight by 5.7% in the fourth quarter. Xponance Inc. now owns 25,035 shares of the company's stock worth $214,000 after acquiring an additional 1,353 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Alight by 38.9% in the fourth 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 during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Alight by 13.7% in the third quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company's stock worth $123,000 after acquiring an additional 2,082 shares during the last quarter. FourThought Financial Partners LLC boosted its position 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 worth $236,000 after acquiring an additional 2,552 shares during the last quarter. Finally, Saxon Interests Inc. boosted its position in shares of Alight by 15.4% in the first quarter. Saxon Interests Inc. now owns 19,668 shares of the company's stock worth $194,000 after acquiring an additional 2,632 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.