Alight (NYSE:ALIT) Stock Price Up 9% – Here’s What Happened

Alight, Inc. (NYSE:ALIT) rose 9% during mid-day trading 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 session volume of 1,347,146 shares. The stock had previously closed at $18.87.

Analyst Ratings Changes

ALIT has been the topic of a number of recent analyst reports. DA Davidson upped their price target on shares of Alight from $2.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings downgraded shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $62.57.

Alight Price Performance

The firm has a 50-day simple moving average of $15.77 and a two-hundred day simple moving average of $18.66. The company has a market capitalization of $558.39 million, a price-to-earnings ratio of -0.18, a P/E/G ratio of 0.40 and a beta of 1.66. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92.

Institutional Investors Weigh In On Alight

Hedge funds and other institutional investors have recently made changes to their positions in the company. Militia Capital Management LLC purchased a new stake in Alight during the first quarter worth $661,000. Essential Partners LLC boosted its stake in shares of Alight by 691.5% during the 1st quarter. Essential Partners LLC now owns 57,333 shares of the company’s stock worth $33,000 after acquiring an additional 50,089 shares in the last quarter. Bull Harbor Capital LLC purchased a new stake in shares of Alight during the 1st quarter worth about $31,000. Royal Bank of Canada boosted its position in Alight by 11.4% during the first quarter. Royal Bank of Canada now owns 167,489 shares of the company’s stock worth $97,000 after purchasing an additional 17,076 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Alight by 5.5% in the first quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock valued at $1,239,000 after purchasing an additional 110,456 shares during the period. Institutional investors and hedge funds 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.