Alight (NYSE:ALIT) Price Target Lowered to $2.50 at KeyCorp

Alight (NYSE:ALIT) had its target price lowered by KeyCorp from $6.00 to $2.50 in a research note released on Thursday, Marketbeat reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. DA Davidson reissued a “buy” rating and issued a $6.00 target price on shares of Alight in a report on Monday, December 8th. Wedbush cut their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Finally, UBS Group dropped their target price on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alight currently has an average rating of “Moderate Buy” and an average target price of $4.70.

Alight Price Performance

Shares of NYSE:ALIT opened at $1.71 on Thursday. Alight has a 52 week low of $1.67 and a 52 week high of $7.66. The company has a 50-day moving average price of $2.14 and a 200 day moving average price of $3.47. The company has a market cap of $909.11 million, a P/E ratio of -0.42 and a beta of 1.08. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99.

Alight (NYSE:ALIT) last issued its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $533.00 million for the quarter, compared to analysts’ expectations of $539.43 million. Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. Research analysts predict that Alight will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.04 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.16 annualized dividend and a dividend yield of 9.4%. Alight’s dividend payout ratio is currently -3.91%.

Insider Transactions at Alight

In related news, Director Robert A. Schriesheim acquired 42,098 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average cost of $2.38 per share, for a total transaction of $100,193.24. Following the transaction, the director directly owned 109,130 shares of the company’s stock, valued at approximately $259,729.40. This trade represents a 62.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kausik Rajgopal bought 40,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the acquisition, the director owned 125,202 shares in the company, valued at $280,452.48. The trade was a 46.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 193,116 shares of company stock valued at $448,984 in the last ninety days. Corporate insiders own 1.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of Alight by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock valued at $58,950,000 after purchasing an additional 135,109 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Alight by 270.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 361,165 shares of the company’s stock valued at $2,044,000 after buying an additional 263,592 shares during the period. Prudential Financial Inc. lifted its position in Alight by 14.0% during the second quarter. Prudential Financial Inc. now owns 1,183,796 shares of the company’s stock valued at $6,700,000 after buying an additional 145,606 shares in the last quarter. American Century Companies Inc. grew its stake in Alight by 9.2% during the second quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock worth $42,777,000 after buying an additional 637,142 shares during the period. Finally, Stanley Capital Management LLC increased its position in shares of Alight by 47.6% in the first quarter. Stanley Capital Management LLC now owns 3,100,835 shares of the company’s stock worth $18,388,000 after acquiring an additional 1,000,000 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Company Profile

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.