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

Alight, Inc. (NYSE:ALIT) gapped down prior to trading 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 Analyst Weigh In

A number of equities research analysts have weighed in on ALIT shares. DA Davidson lifted their price target on shares of Alight to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings cut shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.57.

Alight Price Performance

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

Hedge Funds Weigh In On Alight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake 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 buying an additional 3,138 shares during the last quarter. Strs Ohio bought a new position in shares of Alight in the first quarter valued at approximately $25,000. Royal Bank of Canada raised its stake in shares of Alight by 3.6% in the first 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 during the last quarter. HB Wealth Management LLC boosted its holdings 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 in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings 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 in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.