Alight (NYSE:ALIT) Now Covered by Bank of America

Research analysts at Bank of America assumed coverage on shares of Alight (NYSE:ALIT) in a report released on Tuesday. The brokerage set an “underperform” rating and a $1.40 price target on the stock. Bank of America‘s target price would suggest a potential upside of 8.11% from the company’s current price.

ALIT has been the topic of several other reports. KeyCorp dropped their price target on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. DA Davidson dropped their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. UBS Group lowered their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Wedbush lowered their price target on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.98.

Alight Stock Down 3.4%

Shares of Alight stock opened at $1.30 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $690.49 million, a price-to-earnings ratio of -0.32 and a beta of 1.09. Alight has a twelve month low of $1.29 and a twelve month high of $7.66. The business’s 50 day simple moving average is $1.73 and its 200-day simple moving average is $2.66.

Insider Transactions at Alight

In other Alight news, Director Robert A. Schriesheim purchased 42,098 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was bought at an average cost of $2.38 per share, with a total value of $100,193.24. Following the purchase, the director directly owned 109,130 shares of the company’s stock, valued at $259,729.40. The trade was a 62.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kausik Rajgopal acquired 40,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average cost of $2.24 per share, for a total transaction of $89,600.00. Following the completion of the transaction, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 193,116 shares of company stock valued at $448,984 over the last three months. Company insiders own 1.93% of the company’s stock.

Institutional Trading of Alight

Several institutional investors and hedge funds have recently modified their holdings of ALIT. Vanguard Group Inc. grew its holdings in Alight by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 43,783,776 shares of the company’s stock worth $85,378,000 after acquiring an additional 1,205,027 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Alight by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock worth $84,558,000 after purchasing an additional 348,285 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Alight by 87.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock worth $48,316,000 after acquiring an additional 11,534,921 shares in the last quarter. Rubric Capital Management LP lifted its holdings in shares of Alight by 10.8% in the second quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock valued at $111,089,000 after purchasing an additional 1,906,140 shares in the last quarter. Finally, Cooper Creek Partners Management LLC lifted its position in shares of Alight by 6.6% during the third quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock valued at $62,488,000 after purchasing an additional 1,187,092 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.