Alight, Inc. (NYSE:ALIT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Alight, Inc. (NYSE:ALIT) have earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $62.5714.

ALIT has been the subject of a number of research analyst reports. DA Davidson restated a “buy” rating and issued a $40.00 target price on shares of Alight in a research note on Monday, June 22nd. Weiss Ratings downgraded Alight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th.

Alight Price Performance

Shares of NYSE ALIT opened at $13.83 on Thursday. Alight has a 1 year low of $9.58 and a 1 year high of $122.20. The stock has a market capitalization of $7.39 billion, a P/E ratio of -2.36, a P/E/G ratio of 0.17 and a beta of 1.67. The company’s 50-day moving average is $14.52 and its 200 day moving average is $21.11. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.42 and a quick ratio of 1.42.

Institutional Investors Weigh In On Alight

Several hedge funds have recently bought and sold shares of ALIT. Militia Capital Management LLC purchased a new stake in Alight in the first quarter worth about $661,000. Essential Partners LLC boosted its position in shares of Alight by 691.5% in the 1st quarter. Essential Partners LLC now owns 57,333 shares of the company’s stock worth $33,000 after purchasing an additional 50,089 shares in the last quarter. Bull Harbor Capital LLC bought a new stake in shares of Alight in the 1st quarter worth approximately $31,000. Royal Bank of Canada grew its stake in shares of Alight by 11.4% in the 1st quarter. Royal Bank of Canada now owns 167,489 shares of the company’s stock worth $97,000 after buying an additional 17,076 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Alight by 5.5% in the 1st quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock worth $1,239,000 after buying an additional 110,456 shares during the last quarter. Institutional investors 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.