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

Alight (NYSE:ALIT) had its target price lowered by investment analysts at KeyCorp from $6.00 to $2.50 in a note issued to investors on Thursday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 51.06% from the stock’s current price.

Several other research analysts also recently weighed in on ALIT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. DA Davidson reaffirmed a “buy” rating and set a $6.00 price objective on shares of Alight in a report on Monday, December 8th. UBS Group cut their target price on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Wedbush lowered their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.70.

Alight Trading Down 2.6%

Shares of ALIT stock opened at $1.66 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The firm has a market cap of $882.45 million, a P/E ratio of -0.40 and a beta of 1.08. The company has a 50 day moving average of $2.11 and a 200-day moving average of $3.45. Alight has a 12-month low of $1.59 and a 12-month high of $7.66.

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

Insider Transactions at Alight

In other news, Director Richard N. Massey bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired at an average price of $2.33 per share, with a total value of $233,000.00. Following the acquisition, the director owned 100,000 shares of the company’s stock, valued at approximately $233,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert A. Schriesheim purchased 42,098 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was purchased at an average cost of $2.38 per share, with a total value of $100,193.24. Following the completion of the acquisition, the director owned 109,130 shares in the company, valued at approximately $259,729.40. This trade represents a 62.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 193,116 shares of company stock valued at $448,984. 1.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alight

A number of hedge funds and other institutional investors have recently bought and sold shares of ALIT. Geode Capital Management LLC boosted its holdings in Alight by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock valued at $58,950,000 after acquiring an additional 135,109 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position 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 purchasing an additional 263,592 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of 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 purchasing an additional 145,606 shares during the period. American Century Companies Inc. boosted its stake in shares of Alight by 9.2% during the second quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock valued at $42,777,000 after purchasing an additional 637,142 shares during the period. Finally, Stanley Capital Management LLC grew its holdings 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 purchasing an additional 1,000,000 shares during 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.