Alight (NYSE:ALIT - Get Free Report) had its target price cut by research analysts at Needham & Company LLC from $11.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 35.75% from the company's previous close.
ALIT has been the subject of several other reports. Canaccord Genuity Group boosted their price objective on shares of Alight from $11.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. KeyCorp boosted their target price on shares of Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $10.61.
Check Out Our Latest Stock Analysis on ALIT
Alight Trading Down 2.2 %
ALIT traded down $0.15 during trading on Thursday, hitting $6.63. 5,541,660 shares of the stock traded hands, compared to its average volume of 4,942,172. The firm has a 50-day moving average of $7.34 and a 200 day moving average of $7.24. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The firm has a market capitalization of $3.60 billion, a P/E ratio of -13.81 and a beta of 0.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.
Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. The company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The firm's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. Equities research analysts anticipate that Alight will post 0.47 EPS for the current year.
Insider Buying and Selling
In other Alight news, President Gregory R. Goff sold 250,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the transaction, the president now directly owns 852,694 shares of the company's stock, valued at $6,821,552. This trade represents a 22.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the sale, the insider now owns 223,327 shares in the company, valued at approximately $1,697,285.20. The trade was a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,334,929 shares of company stock worth $43,895,460 in the last 90 days. Insiders own 5.33% of the company's stock.
Institutional Trading of Alight
A number of hedge funds have recently bought and sold shares of ALIT. Rhumbline Advisers increased its position in shares of Alight by 13.9% during the second quarter. Rhumbline Advisers now owns 757,020 shares of the company's stock valued at $5,587,000 after acquiring an additional 92,235 shares during the last quarter. Arizona State Retirement System raised its position in Alight by 8.1% in the second quarter. Arizona State Retirement System now owns 107,340 shares of the company's stock valued at $792,000 after purchasing an additional 8,043 shares during the period. Headlands Technologies LLC purchased a new stake in Alight in the second quarter valued at approximately $251,000. American Century Companies Inc. acquired a new position in Alight during the second quarter worth $174,000. Finally, Qsemble Capital Management LP boosted its position in shares of Alight by 26.2% during the second quarter. Qsemble Capital Management LP now owns 88,053 shares of the company's stock worth $650,000 after buying an additional 18,294 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.
About Alight
(
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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