Alight (NYSE:ALIT) Coverage Initiated by Analysts at KeyCorp

KeyCorp started coverage on shares of Alight (NYSE:ALITGet Rating) in a report released on Thursday, The Fly reports. The brokerage issued an overweight rating on the stock.

Other analysts have also issued reports about the stock. DA Davidson dropped their price target on shares of Alight to $12.00 in a research report on Friday, July 22nd. Credit Suisse Group upped their price target on shares of Alight to $12.00 in a research report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Alight in a research report on Tuesday, August 2nd. They set an overweight rating and a $10.00 price target on the stock.

Alight Stock Performance

NYSE ALIT opened at $7.79 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $7.82 and its two-hundred day moving average price is $8.25. Alight has a 1 year low of $6.31 and a 1 year high of $12.85. The firm has a market capitalization of $4.38 billion, a P/E ratio of 16.10 and a beta of 0.59.

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently modified their holdings of ALIT. Cannae Holdings Inc. lifted its position in Alight by 13.4% during the first quarter. Cannae Holdings Inc. now owns 52,477,062 shares of the company’s stock worth $522,147,000 after purchasing an additional 6,199,879 shares during the period. FPR Partners LLC raised its holdings in Alight by 27.6% in the 4th quarter. FPR Partners LLC now owns 24,138,960 shares of the company’s stock valued at $260,942,000 after buying an additional 5,216,239 shares during the last quarter. State Street Corp raised its holdings in Alight by 616.8% in the 2nd quarter. State Street Corp now owns 5,799,562 shares of the company’s stock valued at $39,147,000 after buying an additional 4,990,518 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Alight by 500.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,138,530 shares of the company’s stock valued at $34,685,000 after purchasing an additional 4,282,526 shares during the period. Finally, Vanguard Group Inc. increased its position in Alight by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 23,604,625 shares of the company’s stock valued at $234,866,000 after purchasing an additional 2,828,903 shares during the period. 72.61% of the stock is currently owned by institutional investors and hedge funds.

About Alight

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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.

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