Alight (NYSE:ALIT) Price Target Lowered to $9.50 at Bank of America

Alight (NYSE:ALIT) had its price objective reduced by Bank of America from $10.00 to $9.50 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Wedbush dropped their target price on Alight from $14.00 to $12.00 and set an outperform rating on the stock in a report on Friday, May 10th. KeyCorp dropped their price objective on shares of Alight from $12.00 to $11.00 and set an overweight rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group raised their target price on shares of Alight from $12.00 to $13.00 and gave the stock a buy rating in a research note on Thursday, March 21st. UBS Group boosted their price target on shares of Alight from $12.00 to $13.00 and gave the stock a buy rating in a research note on Thursday, March 21st. Finally, 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, May 9th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $11.72.

Alight Trading Up 2.1 %

Shares of Alight stock opened at $7.38 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $4.14 billion, a P/E ratio of -11.90, a PEG ratio of 1.43 and a beta of 0.88. Alight has a 1 year low of $6.33 and a 1 year high of $10.38. The company’s fifty day moving average is $8.01 and its two-hundred day moving average is $8.64.

Alight (NYSE:ALIT) last announced its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $816.00 million during the quarter, compared to the consensus estimate of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. Analysts forecast that Alight will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Stephan Scholl sold 83,016 shares of Alight stock in a transaction that occurred on 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 approximately $771,753,903.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were 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 in the company, valued at approximately $28,394,945.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephan Scholl sold 83,016 shares of the 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 disclosure for this sale can be found here. 5.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Alight

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. boosted its stake in shares of Alight by 5.7% during the fourth quarter. Xponance Inc. now owns 25,035 shares of the company’s stock valued at $214,000 after acquiring an additional 1,353 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after buying an additional 1,897 shares in the last quarter. FourThought Financial Partners LLC raised 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 valued at $236,000 after buying an additional 2,552 shares during the last quarter. Saxon Interests Inc. lifted its stake in shares of Alight by 15.4% during the first quarter. Saxon Interests Inc. now owns 19,668 shares of the company’s stock valued at $194,000 after buying an additional 2,632 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its position in Alight by 6.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 60,768 shares of the company’s stock worth $518,000 after acquiring an additional 3,856 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.