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

Alight, Inc. (NYSE:ALIT)’s share price reached a new 52-week low on Monday . The stock traded as low as $1.48 and last traded at $1.4850, with a volume of 613374 shares. The stock had previously closed at $1.49.

Wall Street Analysts Forecast Growth

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

Alight Stock Up 3.0%

The stock has a fifty day moving average of $1.94 and a two-hundred day moving average of $3.12. 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 stock has a market cap of $818.46 million, a price-to-earnings ratio of -0.38 and a beta of 1.08.

Alight (NYSE:ALIT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The firm had revenue of $533.00 million during the quarter, compared to analysts’ expectations of $539.43 million. During the same quarter last year, the business earned $0.09 earnings per share. The business’s revenue for the quarter 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, analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

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

Insider Activity at Alight

In related news, Director Richard N. Massey purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $2.33 per share, for a total transaction of $233,000.00. Following the acquisition, the director directly owned 100,000 shares in the company, valued at $233,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert A. Schriesheim acquired 42,098 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average price of $2.38 per share, for a total transaction of $100,193.24. Following the purchase, the director directly owned 109,130 shares of the company’s stock, valued at approximately $259,729.40. This trade represents a 62.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 193,116 shares of company stock worth $448,984. Corporate insiders own 1.93% of the company’s stock.

Institutional Investors Weigh In On Alight

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Alight by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 42,578,749 shares of the company’s stock valued at $138,807,000 after buying an additional 223,377 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Alight by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock worth $84,558,000 after acquiring an additional 348,285 shares in the last quarter. Rubric Capital Management LP boosted its holdings in Alight by 10.8% in the second 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 grew its stake in Alight by 6.6% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock valued at $62,488,000 after purchasing an additional 1,187,092 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Alight by 289.1% during the 3rd 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.

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.