Alight (NYSE:ALIT) PT Lowered to $9.00

Alight (NYSE:ALIT) had its price objective trimmed by Needham & Company LLC from $11.00 to $9.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently issued reports on the company. DA Davidson restated a buy rating and issued a $12.00 price objective on shares of Alight in a research report on Thursday, June 20th. Wedbush dropped their target price on Alight from $14.00 to $12.00 and set an outperform rating for the company in a research note on Friday, May 10th. KeyCorp dropped their target price on Alight from $11.00 to $10.00 and set an overweight rating for the company in a research note on Thursday, July 11th. Finally, Bank of America dropped their target price on Alight from $10.00 to $9.50 and set a buy rating for the company in a research note on Tuesday, June 25th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and an average target price of $11.17.

Alight Price Performance

Shares of NYSE:ALIT traded down $0.02 on Wednesday, hitting $6.88. The company had a trading volume of 4,252,505 shares, compared to its average volume of 6,242,633. 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 has a 52-week low of $6.15 and a 52-week high of $10.38. The business has a 50 day moving average of $7.27 and a 200 day moving average of $8.39. The company has a market cap of $3.86 billion, a PE ratio of -11.10, a PEG ratio of 1.28 and a beta of 0.87.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. Alight had a positive return on equity of 5.35% and a negative net margin of 6.58%. The business had revenue of $816.00 million for the quarter, compared to the consensus estimate of $832.41 million. As a group, equities analysts anticipate that Alight will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the completion of the sale, the chief operating officer now directly owns 2,880,753 shares in the company, valued at $20,482,153.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alight

A number of large investors have recently modified their holdings of the stock. Pekin Hardy Strauss Inc. grew its stake in shares of Alight by 7.4% in the second quarter. Pekin Hardy Strauss Inc. now owns 57,750 shares of the company’s stock valued at $426,000 after buying an additional 4,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after buying an additional 3,342,413 shares in the last quarter. Qsemble Capital Management LP grew its stake in shares of Alight by 26.2% in the second quarter. Qsemble Capital Management LP now owns 88,053 shares of the company’s stock valued at $650,000 after buying an additional 18,294 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Alight in the second quarter valued at about $174,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Alight in the second quarter valued at about $251,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Company Profile

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.