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

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

A number of other analysts also recently issued reports on the company. Citigroup decreased their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Wedbush lowered their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group raised their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a report on Tuesday, August 20th. Finally, Needham & Company LLC lifted their price target on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Alight presently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Alight Stock Performance

Shares of ALIT opened at $7.73 on Wednesday. Alight has a 1 year low of $6.15 and a 1 year high of $10.38. The stock has a market capitalization of $4.22 billion, a PE ratio of -16.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.37 and a current ratio of 1.30. The stock has a 50-day simple moving average of $7.28 and a 200-day simple moving average of $7.40.

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

Alight Dividend Announcement

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

Insiders Place Their Bets

In other news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALIT. Public Employees Retirement System of Ohio increased its position in Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after purchasing an additional 1,996 shares during the period. Nisa Investment Advisors LLC grew its holdings in Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares during the period. Motco purchased a new position in Alight in the first quarter worth $95,000. Oppenheimer & Co. Inc. purchased a new position in Alight in the third quarter worth $74,000. Finally, Soros Fund Management LLC purchased a new stake in shares of Alight during the 3rd quarter worth $89,000. 96.74% of the stock is 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.