BUZZ-Alight up after naming new CEO
Shares of Alightrose 2.4% to $7.5 in premarket trading after the company announced Dave Guilmette as the new CEO, succeeding Stephan Scholl who resigned in August. Scholl will also leave the board of directors. Guilmette had been appointed as an independent director in May. Alight has faced pressure from activist hedge fund Starboard Value, which holds a 7.8% stake. Out of nine analysts, eight give a "buy" or higher rating, while one rates it "hold," with a median price target of $10.5. Year-to-date, ALIT is down 16.1%.
Shares of U.S. benefits services provider Alight (ALIT.N) up 2.4% to $ 7.5 premarket
ALIT names Dave Guilmette as CEO, replacing Stephan Scholl who had stepped down in August, when co reported its Q2 results
Departing CEO Scholl will also step down from the board of directors
In May, ALIT appointed Guilmette as independent director to its board
In Feb 2024, Reuters reported activist hedge fund Starboard Value built a 7.8% stake in co in a push for changes
Of nine analysts tracking ALIT, eight rate “buy” or higher, while one rates “hold”; median PT at $10.5 - LSEG data
ALIT is down 16.1% YTD as of last close
