Alight (NYSE:ALIT) Trading Down 5.9% – Here’s Why

Alight, Inc. (NYSE:ALIT) dropped 5.9% on Wednesday . The stock traded as low as $1.51 and last traded at $1.5150. Approximately 2,867,102 shares traded hands during trading, a decline of 72% from the average daily volume of 10,287,468 shares. The stock had previously closed at $1.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALIT shares. UBS Group decreased their price objective on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. DA Davidson reissued a “buy” rating and issued a $6.00 price objective on shares of Alight in a research report on Monday, December 8th. Wedbush decreased their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Finally, KeyCorp dropped their target price on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and an average price target of $4.70.

Alight Stock Down 4.0%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50 day moving average price is $1.92 and its two-hundred day moving average price is $3.06. The firm has a market cap of $823.79 million, a price-to-earnings ratio of -0.38 and a beta of 1.08.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The firm had revenue of $533.00 million during the quarter, compared to analyst estimates of $539.43 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, sell-side analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 10.4%. The ex-dividend date was Monday, December 1st. Alight’s dividend payout ratio is presently -3.91%.

Insider Activity

In other news, Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average price of $2.33 per share, with a total value of $233,000.00. Following the purchase, the director directly owned 100,000 shares of the company’s stock, valued at $233,000. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kausik Rajgopal bought 40,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were acquired at an average price of $2.24 per share, with a total value of $89,600.00. Following the completion of the acquisition, the director directly owned 125,202 shares in the company, valued at $280,452.48. This represents a 46.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 193,116 shares of company stock worth $448,984 over the last 90 days. 1.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alight

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Alight by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock valued at $58,950,000 after acquiring an additional 135,109 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Alight by 270.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 361,165 shares of the company’s stock valued at $2,044,000 after purchasing an additional 263,592 shares during the period. Prudential Financial Inc. increased its position in Alight by 14.0% during the second quarter. Prudential Financial Inc. now owns 1,183,796 shares of the company’s stock worth $6,700,000 after purchasing an additional 145,606 shares during the last quarter. American Century Companies Inc. raised its stake in Alight by 9.2% during the second quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock worth $42,777,000 after purchasing an additional 637,142 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Alight by 15.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 97,600 shares of the company’s stock valued at $552,000 after purchasing an additional 13,000 shares during the last quarter. Hedge funds and other institutional investors 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.