KeyCorp Lowers Alight (NYSE:ALIT) Price Target to $10.00

Alight (NYSE:ALIT) had its target price lowered by stock analysts at KeyCorp from $11.00 to $10.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 39.57% from the stock’s current price.

ALIT has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Alight in a research note on Monday, July 1st. 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 note on Thursday, March 21st. Wedbush dropped their price target on Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. DA Davidson restated a “buy” rating and set a $12.00 price objective on shares of Alight in a research report on Thursday, June 20th. Finally, UBS Group upped their price objective on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $11.61.

Alight Stock Performance

NYSE ALIT opened at $7.17 on Thursday. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -11.56, a price-to-earnings-growth ratio of 1.36 and a beta of 0.87. 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 business has a 50-day moving average price of $7.59 and a 200-day moving average price of $8.56. Alight has a twelve month low of $6.33 and a twelve month high of $10.38.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. The company had revenue of $816.00 million during the quarter, compared to analyst estimates of $832.41 million. As a group, equities research analysts predict that Alight will post 0.52 EPS for the current fiscal year.

Insider Transactions at Alight

In other news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction that occurred 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 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. Company insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

Several hedge funds and other institutional investors have recently modified their holdings of ALIT. Vanguard Group Inc. increased its holdings in Alight by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock worth $374,707,000 after purchasing an additional 2,842,454 shares during the period. Fidelity National Financial Inc. increased its holdings in Alight by 11.5% during the 4th quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock worth $190,219,000 after purchasing an additional 2,300,000 shares during the period. Janus Henderson Group PLC increased its holdings in Alight by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock worth $187,745,000 after purchasing an additional 331,303 shares during the period. Glenview Capital Management LLC increased its holdings in Alight by 11.2% during the 4th quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company’s stock worth $155,263,000 after purchasing an additional 1,835,481 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Alight by 33.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after purchasing an additional 3,018,711 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.