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

Shares of Alight, Inc. (NYSE:ALIT) have been given an average recommendation of “Hold” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $62.5714.

A number of analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, DA Davidson upped their price target on shares of Alight from $2.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 2nd.

Alight Stock Performance

ALIT opened at $18.91 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92. Alight has a 12-month low of $9.58 and a 12-month high of $116.00. The firm has a 50 day moving average of $15.77 and a two-hundred day moving average of $18.66. The firm has a market capitalization of $505.44 million, a PE ratio of -0.16, a P/E/G ratio of 0.40 and a beta of 1.66.

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently modified their holdings of the stock. TradeLink Capital LLC purchased a new stake in shares of Alight in the fourth quarter worth about $25,000. Strs Ohio purchased a new position in Alight during the first quarter valued at approximately $25,000. Moss Adams Wealth Advisors LLC acquired a new position in Alight in the fourth quarter valued at approximately $26,000. Renaissance Technologies LLC acquired a new position in Alight in the fourth quarter valued at approximately $26,000. Finally, Evolve Private Wealth LLC purchased a new stake in Alight in the 1st quarter worth approximately $27,000. 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.