Alight (NYSE:ALIT) Given New $12.00 Price Target at JPMorgan Chase & Co.

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

A number of other brokerages have also recently issued reports on ALIT. Wedbush began coverage on Alight in a report on Friday, December 9th. They set an outperform rating and a $13.00 price objective for the company. Needham & Company LLC boosted their price objective on Alight from $12.00 to $13.00 and gave the stock a buy rating in a report on Wednesday, February 22nd. Finally, Credit Suisse Group boosted their price objective on Alight from $13.00 to $16.00 and gave the stock an outperform rating in a report on Wednesday, February 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $13.50.

Alight Trading Down 2.0 %

Shares of NYSE:ALIT opened at $8.68 on Friday. Alight has a 12-month low of $6.31 and a 12-month high of $10.61. The stock has a market cap of $4.84 billion, a PE ratio of -62.00, a P/E/G ratio of 1.61 and a beta of 0.71. The business has a 50 day moving average of $9.28 and a 200-day moving average of $8.56. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.55.

Insider Activity at Alight

In related news, major shareholder Holdings I/Ii Gp L. Blackstone sold 6,341,568 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $8.00, for a total value of $50,732,544.00. Following the completion of the sale, the insider now directly owns 83,109 shares in the company, valued at $664,872. The sale was disclosed in a filing with the SEC, which is available at this link. In other Alight news, major shareholder Holdings I/Ii Gp L. Blackstone sold 6,341,568 shares of the company’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $8.00, for a total transaction of $50,732,544.00. Following the completion of the sale, the insider now directly owns 83,109 shares in the company, valued at $664,872. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $8.71, for a total value of $248,780,698.92. Following the sale, the insider now owns 57,028 shares of the company’s stock, valued at $496,713.88. The disclosure for this sale can be found here. 3.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its holdings in shares of Alight by 65.8% during the first quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after buying an additional 1,875 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Alight during the first quarter worth $49,000. First Horizon Advisors Inc. increased its holdings in shares of Alight by 52.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,133 shares of the company’s stock worth $43,000 after buying an additional 1,756 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Alight by 36.8% during the third quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock worth $47,000 after buying an additional 1,720 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Alight by 109.1% during the third quarter. Strs Ohio now owns 6,900 shares of the company’s stock worth $50,000 after buying an additional 3,600 shares in the last quarter. 95.68% 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.