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

Alight (NYSE:ALIT) had its price objective lowered by KeyCorp from $6.00 to $2.50 in a research report report published on Thursday morning, Marketbeat Ratings reports. KeyCorp currently has an overweight rating on the stock.

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

Alight Trading Down 2.6%

Shares of NYSE:ALIT opened at $1.66 on Thursday. The company has a market capitalization of $882.45 million, a PE ratio of -0.40 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99. Alight has a 12-month low of $1.59 and a 12-month high of $7.66. The business’s fifty day simple moving average is $2.11 and its 200-day simple moving average is $3.43.

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

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 9.7%. The ex-dividend date was Monday, December 1st. Alight’s dividend payout ratio is currently -3.91%.

Insider Activity at Alight

In other news, Director Robert A. Schriesheim purchased 42,098 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were 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 of the company’s stock, valued at approximately $259,729.40. This represents a 62.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kausik Rajgopal acquired 40,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was purchased at an average cost of $2.24 per share, with a total value of $89,600.00. Following the acquisition, the director directly owned 125,202 shares of the company’s stock, valued at $280,452.48. This represents a 46.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 193,116 shares of company stock worth $448,984 in the last three months. Company insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On Alight

A number of large investors have recently bought and sold shares of ALIT. Strs Ohio purchased a new stake in shares of Alight in the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in Alight by 152.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after acquiring an additional 3,138 shares during the period. Danske Bank A S purchased a new stake in Alight in the 3rd quarter worth $31,000. Evergreen Capital Management LLC acquired a new position in Alight during the third quarter worth $35,000. Finally, Vestmark Advisory Solutions Inc. purchased a new position in Alight during the third quarter valued at $37,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

About Alight

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.