Alight (NYSE:ALIT) Reaches New 12-Month Low – What’s Next?

Alight, Inc. (NYSE:ALIT) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.44 and last traded at $1.4450, with a volume of 2251830 shares. The stock had previously closed at $1.51.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALIT. Wedbush cut their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. UBS Group decreased their price target on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. KeyCorp dropped their price target on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a report on Thursday, January 8th. DA Davidson cut their price objective on Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.50.

Alight Stock Down 7.2%

The firm has a market capitalization of $747.01 million, a P/E ratio of -0.34 and a beta of 1.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a 50 day moving average of $1.80 and a 200-day moving average of $2.77.

Insider Transactions at Alight

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Alight by 3.6% during the 1st quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock valued at $948,000 after buying an additional 5,525 shares in the last quarter. AQR Capital Management LLC bought a new stake in Alight during the first quarter worth about $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Alight by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock worth $1,481,000 after purchasing an additional 10,893 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of 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 position in shares of Alight by 7.0% during the 1st 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 last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.