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

Alight, Inc. (NYSE:ALIT) shares gapped down before the market opened on Monday . The stock had previously closed at $21.74, but opened at $20.93. Alight shares last traded at $20.6230, with a volume of 35,987 shares changing hands.

Wall Street Analysts Forecast Growth

ALIT has been the subject of several recent research reports. DA Davidson boosted their price objective on Alight from $2.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings lowered shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of 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 issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.57.

Alight Trading Down 5.1%

The company’s fifty day simple moving average is $15.44 and its two-hundred day simple moving average is $19.33. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $551.31 million, a price-to-earnings ratio of -0.18, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66.

Institutional Trading of Alight

A number of large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Alight by 3.6% during the first quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock worth $948,000 after acquiring an additional 5,525 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Alight in the first quarter worth about $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Alight by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock worth $1,481,000 after purchasing an additional 10,893 shares during the period. Jones Financial Companies Lllp raised its position in shares of Alight by 1,776.2% during the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock worth $67,000 after purchasing an additional 10,657 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alight by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock valued at $6,091,000 after purchasing an additional 66,771 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Company Profile

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.