Alight, Inc. (NYSE:ALIT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Alight, Inc. (NYSE:ALIT) have received a consensus rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $62.5714.

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. DA Davidson increased their price objective on shares of Alight from $2.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings cut shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th.

Institutional Investors Weigh In On Alight

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of Alight by 3.6% in the 1st 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 period. AQR Capital Management LLC acquired a new stake in Alight during the 1st quarter worth about $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alight by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock valued at $1,481,000 after purchasing an additional 10,893 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Alight by 1,776.2% during the 1st quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after purchasing an additional 10,657 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alight by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock valued at $6,091,000 after purchasing an additional 66,771 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Up 0.2%

Shares of ALIT stock opened at $18.91 on Monday. Alight has a 1-year low of $9.58 and a 1-year high of $116.00. The stock’s fifty day moving average price is $15.77 and its 200 day moving average price is $18.66. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $505.44 million, a price-to-earnings ratio of -0.16, a price-to-earnings-growth ratio of 0.40 and a beta of 1.66.

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.