KeyCorp Issues Positive Forecast for Alight (NYSE:ALIT) Stock Price

Alight (NYSE:ALIT) had its price objective increased by KeyCorp from $10.00 to $11.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently weighed in on ALIT. Canaccord Genuity Group raised their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup dropped their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC upped their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research report on Tuesday, August 20th. Finally, Wedbush reduced their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Alight Stock Performance

Shares of ALIT stock opened at $7.73 on Wednesday. The stock has a fifty day moving average price of $7.28 and a 200 day moving average price of $7.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.37 and a current ratio of 1.30. The stock has a market cap of $4.22 billion, a PE ratio of -16.10 and a beta of 0.87. Alight has a 1 year low of $6.15 and a 1 year high of $10.38.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. Sell-side analysts forecast that Alight will post 0.42 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Insider Activity at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the transaction, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Alight

A number of large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after purchasing an additional 1,996 shares in the last quarter. Ingalls & Snyder LLC grew its stake in Alight by 20.9% during the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares during the period. Amalgamated Bank increased its position in shares of Alight by 16.2% in the second quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock worth $121,000 after acquiring an additional 2,289 shares in the last quarter. KBC Group NV raised its stake in shares of Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake 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 during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.