Posted by Defense World Staff on May 27th, 2024
Shares of Alight, Inc. (NYSE:ALIT – Get Free Report) have received an average rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.00.
A number of research analysts recently weighed in on the stock. Wedbush decreased their target price on shares of Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Canaccord Genuity Group increased their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Needham & Company LLC lowered their price target on Alight from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. KeyCorp cut their price objective on Alight from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Finally, UBS Group upped their price target on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st.
Read Our Latest Research Report on ALIT
Insider Buying and Selling at Alight
In related news, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $95.10, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Katie J. Rooney sold 2,777 shares of the 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 in the company, valued at approximately $28,394,945.80. The disclosure for this sale can be found here. Insiders have sold a total of 543,029 shares of company stock valued at $12,385,217 in the last three months. 3.96% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Alight
Several hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new position in Alight during the third quarter valued at approximately $52,000. First Horizon Advisors Inc. lifted its holdings in shares of Alight by 38.9% in the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after acquiring an additional 1,897 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Alight by 86.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company’s stock valued at $86,000 after purchasing an additional 5,661 shares during the last quarter. Motco acquired a new position in Alight during the 1st quarter worth approximately $95,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Alight in the 3rd quarter valued at approximately $109,000. 96.74% of the stock is owned by institutional investors.
Alight Stock Down 1.9 %
Alight stock opened at $8.19 on Monday. Alight has a twelve month low of $6.33 and a twelve month high of $10.38. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $8.99 and a 200-day moving average of $8.67. The stock has a market capitalization of $4.60 billion, a PE ratio of -13.21, a price-to-earnings-growth ratio of 1.40 and a beta of 0.94.
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.
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