Alight, Inc. (NYSE:ALIT) Given Average Recommendation of “Buy” by Analysts

Shares of Alight, Inc. (NYSE:ALIT) have been assigned an average rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.17.

A number of analysts have recently issued reports on the company. KeyCorp dropped their target price on Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Wedbush cut their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America decreased their price target on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Needham & Company LLC cut their price target on shares of Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, DA Davidson reiterated a “buy” rating and set a $12.00 price objective on shares of Alight in a research note on Thursday, June 20th.

Insider Transactions at Alight

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

Institutional Investors Weigh In On Alight

A number of hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in shares of Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares during the period. First Horizon Advisors Inc. grew its position in Alight by 38.9% in the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after purchasing an additional 1,897 shares during the last quarter. Motco acquired a new stake in shares of Alight in the first quarter valued at approximately $95,000. Ingalls & Snyder LLC raised its holdings in shares of Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after buying an additional 2,235 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Alight during the second quarter worth approximately $105,000. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Performance

Shares of ALIT stock opened at $6.93 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The company’s fifty day moving average price is $7.21 and its two-hundred day moving average price is $8.32. The firm has a market capitalization of $3.79 billion, a P/E ratio of -11.18, a P/E/G ratio of 1.65 and a beta of 0.87. Alight has a 12 month low of $6.15 and a 12 month high of $10.38.

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.