Alight (NYSE:ALIT) Trading Up 12.6% – Here’s What Happened

Alight, Inc. (NYSE:ALIT) shot up 12.6% on Tuesday . The stock traded as high as $18.79 and last traded at $18.82. Approximately 511,386 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,420,468 shares. The stock had previously closed at $16.71.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ALIT shares. Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings downgraded Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Finally, DA Davidson increased their price objective on shares of Alight from $2.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alight presently has a consensus rating of “Hold” and a consensus price target of $62.57.

Alight Stock Up 12.5%

The firm has a 50 day simple moving average of $14.65 and a two-hundred day simple moving average of $20.55. 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 $502.52 million, a P/E ratio of -0.16, a PEG ratio of 0.22 and a beta of 1.66.

Institutional Trading of Alight

Several institutional investors and hedge funds have recently modified their holdings of ALIT. Vanguard Group Inc. grew its position in Alight by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 43,783,776 shares of the company’s stock valued at $85,378,000 after acquiring an additional 1,205,027 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Alight by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock valued at $84,558,000 after purchasing an additional 348,285 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Alight by 87.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock valued at $48,316,000 after purchasing an additional 11,534,921 shares during the last quarter. Rubric Capital Management LP grew its holdings in shares of Alight by 10.8% during the 2nd quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock valued at $111,089,000 after purchasing an additional 1,906,140 shares during the last quarter. Finally, Cooper Creek Partners Management LLC increased its position in Alight by 6.6% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock worth $62,488,000 after purchasing an additional 1,187,092 shares in 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.