Alight (NYSE:ALIT) Reaches New 12-Month Low – Here’s Why

Alight, Inc. (NYSE:ALIT)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.89 and last traded at $1.9850, with a volume of 1720354 shares trading hands. The stock had previously closed at $1.98.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group dropped their price objective on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. DA Davidson restated a “buy” rating and issued a $6.00 price objective on shares of Alight in a research report on Tuesday. Needham & Company LLC reduced their price objective on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Wedbush lowered their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.25.

Alight Trading Up 4.9%

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.19 billion, a P/E ratio of -0.55 and a beta of 1.02. The firm’s 50-day simple moving average is $2.84 and its 200-day simple moving average is $4.22.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share 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 company had revenue of $533.00 million for the quarter, compared to analysts’ expectations of $539.43 million. During the same quarter last year, the business posted $0.09 EPS. 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. Analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.16 annualized dividend and a yield of 7.2%. Alight’s payout ratio is -3.91%.

Insider Activity

In other news, Director Kausik Rajgopal acquired 40,000 shares of Alight stock in a transaction dated Tuesday, November 25th. The shares were purchased at an average cost of $2.24 per share, for a total transaction of $89,600.00. Following the transaction, the director owned 125,202 shares of the company’s stock, valued at $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.93% of the company’s stock.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alight by 0.5% during the third quarter. Vanguard Group Inc. now owns 42,578,749 shares of the company’s stock worth $138,807,000 after acquiring an additional 223,377 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Alight by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock valued at $84,558,000 after purchasing an additional 348,285 shares during the last quarter. Rubric Capital Management LP grew its holdings in shares of Alight by 10.8% during the 2nd quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock valued at $111,089,000 after purchasing an additional 1,906,140 shares during the last quarter. Cooper Creek Partners Management LLC raised its position in Alight by 6.6% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock worth $62,488,000 after purchasing an additional 1,187,092 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Alight by 289.1% in the third quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock worth $45,345,000 after purchasing an additional 10,334,915 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Company Profile

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.