Alight (NYSE:ALIT) Downgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Alight (NYSE:ALIT) from an overweight rating to a neutral rating in a research note released on Tuesday, Marketbeat reports. JPMorgan Chase & Co. currently has $8.00 price target on the stock.

A number of other analysts have also commented on the company. Wedbush dropped their price target on Alight from $12.00 to $10.00 and set an outperform rating on the stock in a report on Thursday, August 8th. KeyCorp reduced their price target on shares of Alight from $11.00 to $10.00 and set an overweight rating for the company in a research report on Thursday, July 11th. Bank of America lowered their price objective on shares of Alight from $10.00 to $9.50 and set a buy rating on the stock in a research report on Tuesday, June 25th. DA Davidson reissued a buy rating and set a $12.00 target price on shares of Alight in a research report on Thursday, June 20th. Finally, Needham & Company LLC lowered 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $10.85.

Alight Trading Up 2.1 %

NYSE:ALIT opened at $7.15 on Tuesday. Alight has a 52 week low of $6.15 and a 52 week high of $10.38. The firm has a 50-day moving average price of $7.18 and a two-hundred day moving average price of $8.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of -11.53, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87.

Insider Buying and Selling

In other 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 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 document filed with the SEC, which is available at this link. 5.33% of the stock is currently owned by insiders.

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. increased 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 purchasing an additional 1,897 shares during the period. Nisa Investment Advisors LLC raised 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 valued at $55,000 after acquiring an additional 2,961 shares in the last quarter. Motco bought a new stake in shares of Alight during the 1st quarter valued at about $95,000. Duality Advisers LP purchased a new position in shares of Alight during the first quarter worth about $119,000. Finally, Ingalls & Snyder LLC increased its position in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after purchasing an additional 2,235 shares during the last quarter. Institutional investors 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.