Alight (NYSE:ALIT) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. downgraded shares of Alight (NYSE:ALIT) from an overweight rating to a neutral rating in a research note published on Tuesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $8.00 price objective on the stock.

ALIT has been the subject of several other research reports. KeyCorp dropped their price objective on shares of Alight from $11.00 to $10.00 and set an overweight rating for the company in a report on Thursday, July 11th. DA Davidson reissued a buy rating and set a $12.00 price target on shares of Alight in a research note on Thursday, June 20th. Wedbush reduced their price objective on Alight from $12.00 to $10.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Bank of America decreased their price objective on Alight from $10.00 to $9.50 and set a buy rating on the stock in a report on Tuesday, June 25th. Finally, Needham & Company LLC cut their target price on shares of Alight from $11.00 to $9.00 and set a buy rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Alight has a consensus rating of Moderate Buy and a consensus price target of $10.85.

Alight Price Performance

ALIT stock opened at $7.15 on Tuesday. The company has a market capitalization of $4.01 billion, a PE ratio of -11.53, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. The company’s fifty day moving average price is $7.18 and its 200-day moving average price is $8.26. Alight has a one year low of $6.15 and a one year high of $10.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37.

Insider Buying and Selling

In other Alight news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction on Monday, July 8th. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. Following the completion of the transaction, the chief operating officer now directly owns 2,880,753 shares of the company’s stock, valued at $20,482,153.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alight

Several institutional investors have recently made changes to their positions in the company. Strs Ohio raised its position in Alight by 30.6% in the 4th quarter. Strs Ohio now owns 24,300 shares of the company’s stock worth $207,000 after purchasing an additional 5,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Alight by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,077 shares of the company’s stock valued at $512,000 after buying an additional 4,892 shares during the last quarter. Xponance Inc. raised its holdings in shares of Alight by 5.7% in the fourth quarter. Xponance Inc. now owns 25,035 shares of the company’s stock worth $214,000 after buying an additional 1,353 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Alight by 67.1% during the 4th quarter. Handelsbanken Fonder AB now owns 54,800 shares of the company’s stock worth $467,000 after acquiring an additional 22,000 shares during the last quarter. Finally, Bailard Inc. bought a new stake in shares of Alight during the 4th quarter worth approximately $264,000. Institutional investors own 96.74% of the company’s stock.

About Alight

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.