Alight (NYSE:ALIT) Sets New 1-Year Low – Here’s Why

Alight, Inc. (NYSE:ALIT)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.59 and last traded at $1.6050, with a volume of 10621739 shares changing hands. The stock had previously closed at $1.66.

Analyst Ratings Changes

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

Alight Stock Down 3.3%

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 business has a 50 day moving average of $2.07 and a 200 day moving average of $3.36. The firm has a market capitalization of $855.79 million, a price-to-earnings ratio of -0.39 and a beta of 1.08.

Alight (NYSE:ALIT) last announced its quarterly earnings results 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). The business had revenue of $533.00 million during the quarter, compared to the consensus estimate of $539.43 million. Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, equities analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend was Monday, December 1st. Alight’s payout ratio is presently -3.91%.

Insider Activity

In related news, Director Robert A. Schriesheim bought 42,098 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average cost of $2.38 per share, with a total value of $100,193.24. Following the acquisition, the director owned 109,130 shares in the company, valued at approximately $259,729.40. This represents a 62.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kausik Rajgopal purchased 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average cost of $2.24 per share, for a total transaction of $89,600.00. Following the purchase, the director owned 125,202 shares in the company, valued at $280,452.48. This represents a 46.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 193,116 shares of company stock worth $448,984. Company insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On Alight

Several institutional investors have recently added to or reduced their stakes in ALIT. Corbyn Investment Management Inc. MD grew its stake in Alight by 24.9% during the fourth quarter. Corbyn Investment Management Inc. MD now owns 1,767,663 shares of the company’s stock worth $3,447,000 after buying an additional 352,838 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Alight by 191.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 77,837 shares of the company’s stock worth $148,000 after acquiring an additional 51,092 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in Alight by 75.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 18,868 shares of the company’s stock valued at $62,000 after purchasing an additional 8,139 shares in the last quarter. Cantor Fitzgerald L. P. bought a new position in Alight in the 3rd quarter valued at $261,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Alight in the third quarter worth $150,000. 96.74% of the stock is owned by institutional investors.

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.