Get Out (NYSE:ALIT – Free Report) Wedbush cut its price target from $12.00 to $10.00 in a research report released Thursday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.
A number of other research firms have also recently issued reports on ALIT. KeyCorp lowered their price target on shares of Alight from $11.00 to $10.00 and gave the company an overweight rating in a report on Thursday, July 11. Bank of America lowered their price target on Alight from $10.00 to $9.50 and issued a buy rating on the stock in a research note on Tuesday, June 25. DA Davidson reiterated a buy rating and issued a $12.00 price target on shares of Alight in a research report on Thursday, June 20. Finally, Needham & Company LLC lowered their price target on Alight from $11.00 to $9.00 and issued a buy rating on the stock in a research note on Wednesday. Nine analysts have rated the stock with a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $11.17.
Check out our latest stock report on ALIT
Price development of Alight shares
ALIT shares opened at $6.88 on Thursday. The stock’s 50-day moving average is $7.27 and its 200-day moving average is $8.39. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -11.10, a PEG ratio of 1.28 and a beta of 0.87. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.61.
Alight (NYSE:ALIT – Get Free Report) last announced its earnings results on Wednesday, May 8. The company reported earnings per share (EPS) of $0.07 for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $816.00 million during the quarter, compared to analyst estimates of $832.41 million. Alight had a positive return on equity of 5.35% and a negative net margin of 6.58%. Overall, sell-side analysts forecast that Alight will post earnings per share of $0.52 for the current year.
Insider transactions at Alight
In related news, COO Katie J. Rooney sold 47,851 shares of the company’s stock on Monday, July 8. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. After the sale, the COO now owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Company insiders own 5.33% of the company’s stock.
Institutional trading with Alight
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pekin Hardy Strauss Inc. increased its holdings in Alight by 7.4% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 57,750 shares of the company’s stock valued at $426,000 after purchasing an additional 4,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Alight by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after purchasing an additional 3,342,413 shares in the last quarter. Qsemble Capital Management LP increased its holdings in Alight by 26.2% in the 2nd quarter. Qsemble Capital Management LP now owns 88,053 shares of the company’s stock valued at $650,000 after purchasing an additional 18,294 shares during the same period. American Century Companies Inc. acquired a new position in Alight during the second quarter valued at about $174,000. Finally, Headlands Technologies LLC acquired a new position in Alight during the second quarter valued at about $251,000. Institutional investors 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 in two segments: Employer Solutions and Professional Services. The Employer Solutions segment provides employee wellness, integrated benefits administration, health navigation, financial wellness, absence management, retiree healthcare and payroll, and operates AI-powered software.
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