Alight (NYSE:ALIT) Shares Gap Down – What’s Next?

Alight, Inc. (NYSE:ALIT) gapped down prior to trading on Thursday . The stock had previously closed at $13.73, but opened at $13.15. Alight shares last traded at $13.5110, with a volume of 109,819 shares trading hands.

Wall Street Analyst Weigh In

ALIT has been the topic of several research analyst reports. DA Davidson boosted their price objective on Alight to $40.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings cut 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. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.57.

Alight Stock Performance

The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $375.74 million, a price-to-earnings ratio of -0.12, a price-to-earnings-growth ratio of 0.22 and a beta of 1.66. The stock’s fifty day simple moving average is $14.58 and its 200-day simple moving average is $20.86.

Institutional Trading of Alight

Several hedge funds have recently modified their holdings of ALIT. Militia Capital Management LLC purchased a new position in Alight in the first quarter valued at $661,000. Essential Partners LLC grew its stake in Alight by 691.5% during 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 purchased a new stake in Alight during the 1st quarter worth about $31,000. Royal Bank of Canada increased its holdings in Alight by 11.4% during the 1st quarter. Royal Bank of Canada now owns 167,489 shares of the company’s stock worth $97,000 after purchasing an additional 17,076 shares during the period. Finally, Empowered Funds LLC raised its position in Alight by 5.5% in the 1st quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock valued at $1,239,000 after purchasing an additional 110,456 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.