Alight (NYSE:ALIT) Shares Gap Up to $7.26

Alight, Inc. (NYSE:ALITGet Free Report)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.26, but opened at $7.55. Alight shares last traded at $7.61, with a volume of 587,766 shares changing hands.

Analysts Set New Price Targets

ALIT has been the subject of a number of research reports. KeyCorp reduced their price target on shares of Alight from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Needham & Company LLC reduced their price objective on shares of Alight from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Wedbush reduced their price objective on shares of Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, May 10th. UBS Group raised their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Canaccord Genuity Group raised their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $12.00.

Get Our Latest Stock Report on Alight

Alight Stock Performance

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 stock’s 50 day simple moving average is $8.33 and its two-hundred day simple moving average is $8.69.

Alight (NYSE:ALITGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $832.41 million. Analysts anticipate that Alight, Inc. will post 0.52 earnings per share for the current year.

Insider Activity

In other news, CEO Stephan Scholl sold 428,574 shares of Alight stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the sale, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Stephan Scholl sold 428,574 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Katie J. Rooney sold 2,777 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the transaction, the insider now owns 2,927,314 shares in the company, valued at $28,394,945.80. The disclosure for this sale can be found here. Insiders have sold 516,865 shares of company stock worth $12,151,049 over the last ninety days. Insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

A number of institutional investors have recently modified their holdings of ALIT. Swiss National Bank boosted its position in shares of Alight by 13.8% in the third quarter. Swiss National Bank now owns 711,000 shares of the company’s stock valued at $5,041,000 after acquiring an additional 86,300 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Alight by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,508 shares of the company’s stock valued at $20,409,000 after acquiring an additional 215,360 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Alight by 13.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 320,717 shares of the company’s stock worth $2,274,000 after purchasing an additional 37,523 shares during the period. Deutsche Bank AG lifted its position in Alight by 19.1% during the third quarter. Deutsche Bank AG now owns 188,954 shares of the company’s stock worth $1,340,000 after purchasing an additional 30,309 shares during the period. Finally, Rhumbline Advisers lifted its position in Alight by 1.4% during the third quarter. Rhumbline Advisers now owns 634,524 shares of the company’s stock worth $4,499,000 after purchasing an additional 9,014 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Company Profile

(Get Free Report)

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.

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