Alight (NYSE:ALIT) Stock Price Down 5.3% – Here’s Why

Alight, Inc. (NYSE:ALIT)’s stock price traded down 5.3% on Tuesday . The stock traded as low as $19.10 and last traded at $19.2640. Approximately 100,218 shares changed hands during trading, a decline of 93% from the average daily volume of 1,370,464 shares. The stock had previously closed at $20.35.

Wall Street Analysts Forecast Growth

ALIT has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings downgraded shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Finally, DA Davidson raised 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. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Alight currently has a consensus rating of “Hold” and a consensus price target of $62.57.

Alight Trading Down 9.3%

The company has a fifty day moving average of $15.51 and a two-hundred day moving average of $19.20. 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 stock has a market capitalization of $493.41 million, a price-to-earnings ratio of -0.16, a P/E/G ratio of 0.46 and a beta of 1.66.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC lifted its position in shares of Alight by 57.8% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 5,177,007 shares of the company’s stock worth $10,095,000 after purchasing an additional 1,895,403 shares in the last quarter. Ruffer LLP purchased a new stake in Alight during the 4th quarter worth $3,339,000. Tejara Capital Ltd lifted its holdings in Alight by 208.5% in the 4th quarter. Tejara Capital Ltd now owns 1,367,529 shares of the company’s stock worth $2,667,000 after buying an additional 924,200 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Alight by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 43,783,776 shares of the company’s stock worth $85,378,000 after buying an additional 1,205,027 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in Alight by 34.5% in the 4th quarter. HB Wealth Management LLC now owns 26,605 shares of the company’s stock valued at $52,000 after buying an additional 6,817 shares during the last quarter. Hedge funds and other institutional investors 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.