PNC Financial Services Group Inc. lifted its holdings in shares of Alight, Inc. (NYSE:ALIT – Get Rating) by 98.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,550 shares of the company’s stock after purchasing an additional 11,181 shares during the period. PNC Financial Services Group Inc.’s holdings in Alight were worth $189,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in ALIT. Advisor Group Holdings Inc. lifted its holdings in shares of Alight by 65.8% during the first quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after buying an additional 1,875 shares in the last quarter. Quantbot Technologies LP bought a new stake in Alight in the first quarter valued at approximately $49,000. Royal Bank of Canada boosted its holdings in shares of Alight by 36.8% during the 3rd quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock worth $47,000 after buying an additional 1,720 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Alight during the 1st quarter worth approximately $129,000. Finally, Horrell Capital Management Inc. boosted its holdings in shares of Alight by 15.9% during the 4th quarter. Horrell Capital Management Inc. now owns 13,770 shares of the company’s stock worth $115,000 after buying an additional 1,885 shares in the last quarter. Institutional investors own 95.68% of the company’s stock.
Alight Stock Up 1.5 %
Shares of NYSE ALIT opened at $9.00 on Friday. The firm’s 50-day moving average price is $8.81 and its 200-day moving average price is $8.90. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -34.61, a P/E/G ratio of 2.12 and a beta of 0.70. Alight, Inc. has a 12-month low of $6.31 and a 12-month high of $10.19.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Alight from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, March 10th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Alight in a research note on Monday, March 13th. Finally, Credit Suisse Group upped their price objective on Alight from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, February 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.50.
Alight Company Profile
Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company’s solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.
Further Reading
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