Alight (NYSE:ALIT) Shares Gap Down – Time to Sell?

Alight, Inc. (NYSE:ALIT) gapped down before the market opened 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 Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings downgraded Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. DA Davidson upped their target price on Alight to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.57.

Alight Price Performance

The stock’s 50-day moving average is $14.52 and its 200-day moving average is $21.11. The firm has a market cap of $7.30 billion, a P/E ratio of -2.33, a price-to-earnings-growth ratio of 0.17 and a beta of 1.67. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALIT. EverSource Wealth Advisors LLC lifted its stake in shares of Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after buying an additional 3,138 shares during the period. Strs Ohio acquired a new position in Alight in the 1st quarter valued at approximately $25,000. Royal Bank of Canada raised its holdings in Alight by 3.6% in the 1st quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock valued at $948,000 after acquiring an additional 5,525 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Alight by 34.5% in the 4th quarter. HB Wealth Management LLC now owns 26,605 shares of the company’s stock worth $52,000 after acquiring an additional 6,817 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Alight by 1.6% in the 3rd quarter. Alliancebernstein L.P. now owns 438,918 shares of the company’s stock worth $1,431,000 after acquiring an additional 7,088 shares during the period. 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.