Alight (NYSE:ALIT) Hits New 52-Week Low – Time to Sell?

Alight, Inc. (NYSE:ALIT)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $3.28 and last traded at $3.29, with a volume of 160136 shares changing hands. The stock had previously closed at $3.34.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALIT shares. Needham & Company LLC dropped their target price on Alight from $8.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group dropped their price objective on Alight from $10.00 to $6.50 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Wedbush cut their price target on Alight from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Alight presently has a consensus rating of “Buy” and an average price target of $8.75.

Alight Price Performance

The company has a market capitalization of $1.80 billion, a PE ratio of -1.51 and a beta of 1.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. The firm’s 50 day simple moving average is $4.34 and its 200 day simple moving average is $5.12.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The firm’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, research analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.16 annualized dividend and a dividend yield of 4.8%. Alight’s dividend payout ratio (DPR) is currently -7.24%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new position in shares of Alight during the second quarter worth $32,050,000. Norges Bank purchased a new position in Alight in the 2nd quarter worth $28,596,000. Man Group plc grew its holdings in Alight by 155.4% in the 2nd quarter. Man Group plc now owns 3,830,799 shares of the company’s stock worth $21,682,000 after acquiring an additional 2,331,077 shares during the last quarter. American Century Companies Inc. boosted its stake in Alight by 50.4% during the first quarter. American Century Companies Inc. now owns 6,920,646 shares of the company’s stock worth $41,039,000 after acquiring an additional 2,319,685 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new position in shares of Alight in the second quarter worth approximately $12,028,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

About Alight

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.