Shares of Alight, Inc. (NYSE:ALIT – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $7.46, but opened at $8.60. Alight shares last traded at $8.81, with a volume of 2,663,187 shares trading hands.
Analyst Upgrades and Downgrades
ALIT has been the topic of a number of research reports. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Tuesday, August 20th. Wedbush cut their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Alight in a research note on Monday, September 30th. Finally, Citigroup cut their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.75.
Check Out Our Latest Research Report on ALIT
Alight Stock Up 14.9 %
Hedge Funds Weigh In On Alight
Several hedge funds and other institutional investors have recently made changes to their positions in ALIT. Nisa Investment Advisors LLC lifted its stake in Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the last quarter. Motco acquired a new position in Alight during the first quarter worth approximately $95,000. Oppenheimer & Co. Inc. acquired a new position in Alight during the third quarter worth approximately $74,000. Duality Advisers LP acquired a new position in Alight during the first quarter worth approximately $119,000. Finally, KBC Group NV increased its position in Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.
Alight Company Profile
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.
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