Alight (NYSE:ALIT) Shares Up 9% – Here’s Why

Shares of Alight, Inc. (NYSE:ALIT) shot up 9% on Monday . The stock traded as high as $20.35 and last traded at $20.5660. Approximately 161,067 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,347,146 shares. The stock had previously closed at $18.87.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 7th. DA Davidson lifted their target price on Alight from $2.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen upgraded 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 assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.57.

Alight Stock Up 1.4%

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 firm has a market cap of $534.92 million, a price-to-earnings ratio of -0.17, a PEG ratio of 0.42 and a beta of 1.66. The firm’s 50 day simple moving average is $15.91 and its two-hundred day simple moving average is $18.43.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new stake in Alight in the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares during the last quarter. Danske Bank A S purchased a new position in Alight in the third quarter worth $31,000. Peapack Gladstone Financial Corp bought a new position in Alight during the second quarter valued at about $64,000. Finally, Jones Financial Companies Lllp boosted its stake in Alight by 1,776.2% in the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after acquiring an additional 10,657 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.