Alight (NYSE:ALIT) Price Target Increased to $12.00 by Analysts at JPMorgan Chase & Co.

Alight (NYSE:ALIT – Get Rating) had its target price raised by JPMorgan Chase & Co. from $11.00 to $12.00 in a report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on ALIT. Credit Suisse Group increased their price target on Alight from $13.00 to $16.00 and gave the stock an outperform rating in a report on Wednesday, February 22nd. Needham & Company LLC increased their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a buy rating in a research report on Wednesday, February 22nd. Finally, Wedbush initiated coverage on shares of Alight in a research report on Friday, December 9th. They set an outperform rating and a $13.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $13.50.

Alight Stock Performance

Shares of Alight stock opened at $8.68 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $9.28 and a two-hundred day moving average price of $8.56. Alight has a 1-year low of $6.31 and a 1-year high of $10.61. The company has a market cap of $4.84 billion, a P/E ratio of -62.00, a PEG ratio of 1.61 and a beta of 0.71.

Insider Transactions at Alight

In related news, major shareholder Holdings I/Ii Gp L. Blackstone sold 6,341,568 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $8.00, for a total value of $50,732,544.00. Following the transaction, the insider now owns 83,109 shares of the company’s stock, valued at approximately $664,872. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Holdings I/Ii Gp L. Blackstone sold 6,341,568 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $8.00, for a total value of $50,732,544.00. Following the transaction, the insider now owns 83,109 shares of the company’s stock, valued at approximately $664,872. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The stock was acquired at an average cost of $8.14 per share, for a total transaction of $814,000.00. Following the transaction, the director now owns 1,293,195 shares in the company, valued at approximately $10,526,607.30. The disclosure for this purchase can be found here. Insiders own 3.96% of the company’s stock.

Hedge Funds Weigh In On Alight

Several large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its stake in Alight by 52.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,133 shares of the company’s stock valued at $43,000 after buying an additional 1,756 shares during the last quarter. Royal Bank of Canada increased its stake in Alight by 36.8% in the 3rd quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock valued at $47,000 after buying an additional 1,720 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in Alight by 65.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock valued at $47,000 after buying an additional 1,875 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Alight in the 1st quarter valued at about $49,000. Finally, Strs Ohio increased its stake in Alight by 109.1% in the 3rd quarter. Strs Ohio now owns 6,900 shares of the company’s stock valued at $50,000 after buying an additional 3,600 shares during the last quarter. Institutional investors own 95.68% of the company’s stock.

Alight Company Profile

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Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.