Alight, Inc. (NYSE:ALIT – Get Rating)'s share price fell 6.5% on Thursday . The stock traded as low as $7.34 and last traded at $7.36. 19,240 shares traded hands during trading, a decline of 99% from the average session volume of 1,609,875 shares. The stock had previously closed at $7.87.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on ALIT. KeyCorp began coverage on shares of Alight in a research note on Thursday, September 15th. They set an "overweight" rating and a $15.00 price objective on the stock. DA Davidson reduced their price objective on shares of Alight to $12.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. initiated coverage on shares of Alight in a research note on Tuesday, August 2nd. They issued an "overweight" rating and a $10.00 price target on the stock. Finally, Credit Suisse Group lifted their price target on shares of Alight to $12.00 in a research note on Tuesday, August 9th.
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Alight Stock Down 7.9 %
The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 16.04 and a beta of 0.59. The stock's fifty day moving average price is $7.87 and its 200-day moving average price is $8.20.
Institutional Trading of Alight
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC acquired a new stake in shares of Alight in the second quarter valued at approximately $368,000. Legal & General Group Plc increased its holdings in Alight by 66.6% during the second quarter. Legal & General Group Plc now owns 236,817 shares of the company's stock worth $1,598,000 after buying an additional 94,681 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Alight by 500.3% during the second quarter. Goldman Sachs Group Inc. now owns 5,138,530 shares of the company's stock worth $34,685,000 after buying an additional 4,282,526 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Alight by 141.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 55,297 shares of the company's stock worth $373,000 after buying an additional 32,397 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in Alight during the second quarter worth $170,000. 72.61% of the stock is currently owned by institutional investors and hedge funds.
Alight Company Profile
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Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.
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