Alight (NYSE:ALIT) Price Target Lowered to $10.00 at Wedbush

Alight (NYSE:ALIT) had its price target trimmed by Wedbush from $12.00 to $10.00 in a research note published on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the company. DA Davidson reaffirmed a buy rating and issued a $12.00 price objective on shares of Alight in a report on Thursday, June 20th. KeyCorp dropped their price objective on Alight from $11.00 to $10.00 and set an overweight rating on the stock in a report on Thursday, July 11th. Bank of America cut their price objective on Alight from $10.00 to $9.50 and set a buy rating for the company in a research report on Tuesday, June 25th. Finally, Needham & Company LLC cut their price objective on Alight from $11.00 to $9.00 and set a buy rating for the company in a research report on Wednesday, August 7th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Alight currently has a consensus rating of Buy and an average target price of $11.17.

Alight Trading Down 0.3 %

Shares of NYSE:ALIT opened at $6.88 on Thursday. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $7.27 and its 200-day simple moving average is $8.38.

Insider Activity

In other news, COO Katie J. Rooney sold 47,851 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $7.11, for a total value of $340,220.61. Following the completion of the transaction, the chief operating officer now 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. Company insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

Large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its stake in shares of Alight by 38.9% during the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock valued at $58,000 after acquiring an additional 1,897 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Alight by 65.3% during the second 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 last quarter. Motco acquired a new stake in shares of Alight during the first quarter valued at $95,000. Duality Advisers LP acquired a new stake in shares of Alight during the first quarter valued at $119,000. Finally, Ingalls & Snyder LLC boosted its stake 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 acquiring an additional 2,235 shares during the last quarter. Institutional investors and hedge funds 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.