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

Alight (NYSE:ALIT) had its price target cut by Wedbush from $12.00 to $10.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also weighed in on ALIT. Bank of America dropped their price target on 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 price target on shares of Alight in a research report on Thursday, June 20th. KeyCorp dropped their price target on Alight from $11.00 to $10.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. Finally, Needham & Company LLC dropped their price target on Alight from $11.00 to $9.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $11.17.

Alight Price Performance

Shares of Alight stock opened at $6.88 on Thursday. The stock’s fifty day moving average is $7.27 and its 200-day moving average is $8.38. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. Alight has a 12-month low of $6.15 and a 12-month high of $10.38.

Insider Buying and Selling at Alight

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $7.11, for a total value of $340,220.61. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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. Nisa Investment Advisors LLC boosted its stake in shares of Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after acquiring an additional 2,961 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Alight by 38.9% during the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after acquiring an additional 1,897 shares in the last quarter. Motco bought a new stake in shares of Alight during the 1st quarter worth about $95,000. Ingalls & Snyder LLC boosted its stake in shares of Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after acquiring an additional 2,235 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Alight during the 2nd quarter worth about $105,000. 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.