Alight (NYSE:ALIT) Rating Lowered to Neutral at JPMorgan Chase & Co.

Alight (NYSE:ALIT) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $8.00 price target on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 13.80% from the stock’s previous close.

A number of other equities research analysts also recently commented on ALIT. Wedbush reduced their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America lowered their target price on shares of 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 reaffirmed a “buy” rating and issued a $12.00 target price on shares of Alight in a report on Thursday, June 20th. Needham & Company LLC decreased their price target on Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, KeyCorp lowered their price target on Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.85.

Alight Stock Up 1.4 %

ALIT opened at $7.03 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. Alight has a 12 month low of $6.15 and a 12 month high of $10.38. The stock has a market capitalization of $3.84 billion, a P/E ratio of -11.34, a P/E/G ratio of 1.68 and a beta of 0.87. The business has a 50 day simple moving average of $7.18 and a 200-day simple moving average of $8.27.

Insider Buying and Selling at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the completion of the sale, the chief operating officer now owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.33% of the stock is owned by insiders.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently bought and sold shares of ALIT. Strs Ohio boosted its holdings in shares of Alight by 30.6% during the fourth quarter. Strs Ohio now owns 24,300 shares of the company’s stock worth $207,000 after purchasing an additional 5,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Alight by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,077 shares of the company’s stock worth $512,000 after buying an additional 4,892 shares during the last quarter. Xponance Inc. increased its stake in shares of Alight by 5.7% during the 4th quarter. Xponance Inc. now owns 25,035 shares of the company’s stock valued at $214,000 after acquiring an additional 1,353 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Alight by 67.1% during the 4th quarter. Handelsbanken Fonder AB now owns 54,800 shares of the company’s stock worth $467,000 after acquiring an additional 22,000 shares during the period. Finally, Bailard Inc. purchased a new position in shares of Alight during the 4th quarter worth about $264,000. 96.74% of the stock is 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.