Alight (NYSE:ALIT) Price Target Lowered to $12.00 at Wedbush

Alight (NYSE:ALITFree Report) had its target price trimmed by Wedbush from $14.00 to $12.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also commented on ALIT. KeyCorp reduced their target price on shares of Alight from $12.00 to $11.00 and set an overweight rating on the stock in a report on Thursday. Canaccord Genuity Group increased their target price on Alight from $12.00 to $13.00 and gave the company a buy rating in a report on Thursday, March 21st. UBS Group raised their price target on Alight from $12.00 to $13.00 and gave the stock a buy rating in a research report on Thursday, March 21st. Finally, Needham & Company LLC cut their target price on Alight from $13.00 to $11.00 and set a buy rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alight presently has a consensus rating of Buy and an average price target of $12.00.

View Our Latest Stock Analysis on Alight

Alight Price Performance

NYSE ALIT traded down $0.02 during trading on Friday, reaching $7.67. The company’s stock had a trading volume of 13,450,917 shares, compared to its average volume of 5,336,500. The firm has a fifty day moving average of $9.19 and a 200 day moving average of $8.57. Alight has a one year low of $6.33 and a one year high of $10.38. The stock has a market capitalization of $4.32 billion, a PE ratio of -12.37, a P/E/G ratio of 1.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.27.

Alight (NYSE:ALITGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The business had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. Analysts expect that Alight will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the sale, the insider now directly owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Katie J. Rooney sold 26,164 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total transaction of $234,167.80. Following the sale, the insider now directly owns 2,963,694 shares of the company’s stock, valued at approximately $26,525,061.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katie J. Rooney sold 2,777 shares of Alight stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the transaction, the insider now directly owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 543,029 shares of company stock worth $12,385,217. 3.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alight

A number of institutional investors have recently made changes to their positions in ALIT. Vanguard Group Inc. lifted its position in Alight by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock valued at $374,707,000 after acquiring an additional 2,842,454 shares in the last quarter. Fidelity National Financial Inc. boosted its position in shares of Alight by 11.5% during the fourth quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock valued at $190,219,000 after buying an additional 2,300,000 shares during the last quarter. Glenview Capital Management LLC boosted its position in shares of Alight by 11.2% during the fourth quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company’s stock valued at $155,263,000 after buying an additional 1,835,481 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Alight by 33.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after buying an additional 3,018,711 shares in the last quarter. Finally, River Road Asset Management LLC raised its position in Alight by 2.9% in the 4th quarter. River Road Asset Management LLC now owns 9,360,406 shares of the company’s stock worth $79,844,000 after buying an additional 263,242 shares during the last quarter. Hedge funds and other 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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