Alight (NYSE:ALIT) Stock Price Up 9% - Should You Buy?

Key Points

• Alight shares jumped 9% to about $20.57, though trading volume was roughly 88% below the average session volume.
• Analyst sentiment remains mixed: three analysts rate the stock Buy, three Hold, and two Sell. MarketBeat reports an overall Hold rating with an average price target of $62.57.
• Institutional investors own 96.74% of Alight’s stock, while the company carries a debt-to-equity ratio of 1.92 and reported a negative P/E ratio of -0.18.

Alight, Inc. (NYSE:ALIT - Get Free Report) shares rose 9% on Monday . The company traded as high as $20.35 and last traded at $20.5660. Approximately 161,067 shares changed hands during trading, a decline of 88% from the average session volume of 1,347,146 shares. The stock had previously closed at $18.87.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALIT shares. Weiss Ratings downgraded Alight from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, May 7th. DA Davidson increased their target price on Alight from $2.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen raised Alight from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Alight presently has an average rating of "Hold" and an average target price of $62.57.

Alight Stock Performance

The company has a market capitalization of $558.39 million, a P/E ratio of -0.18, a P/E/G ratio of 0.40 and a beta of 1.66. The business has a 50-day moving average of $15.77 and a 200-day moving average of $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.

Institutional Trading of Alight

Several institutional investors and hedge funds have recently made changes to their positions in ALIT. Strs Ohio bought a new position in shares of Alight in the 1st quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company's stock worth $29,000 after purchasing an additional 3,138 shares in the last quarter. Danske Bank A S bought a new position in Alight in the third quarter worth about $31,000. Peapack Gladstone Financial Corp purchased a new stake in shares of Alight during the second quarter valued at about $64,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Alight by 1,776.2% in the 1st quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company's stock valued at $67,000 after buying an additional 10,657 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.

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