Alight (NYSE:ALIT) Trading Down 5.9% – What’s Next?

Alight, Inc. (NYSE:ALIT)’s share price dropped 5.9% during trading on Wednesday . The company traded as low as $1.51 and last traded at $1.5150. Approximately 2,867,102 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 10,287,468 shares. The stock had previously closed at $1.61.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. KeyCorp reduced their price objective on Alight from $6.00 to $2.50 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Wedbush dropped their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Finally, DA Davidson reissued a “buy” rating and issued a $6.00 price target on shares of Alight in a research note on Monday, December 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alight currently has a consensus rating of “Moderate Buy” and an average target price of $4.70.

Alight Trading Down 4.0%

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 capitalization of $823.79 million, a price-to-earnings ratio of -0.38 and a beta of 1.08. The company’s 50-day moving average is $1.92 and its 200-day moving average is $3.06.

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 analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $533.00 million for the quarter, compared to analyst estimates of $539.43 million. Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. Research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed 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 dividend yield of 10.4%. The ex-dividend date of this dividend was Monday, December 1st. Alight’s dividend payout ratio (DPR) is presently -3.91%.

Insider Buying and Selling at Alight

In related news, Director Richard N. Massey acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average price of $2.33 per share, with a total value of $233,000.00. Following the transaction, the director owned 100,000 shares of the company’s stock, valued at approximately $233,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kausik Rajgopal bought 40,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 193,116 shares of company stock valued at $448,984 over the last 90 days. 1.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Alight

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Alight by 4.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock valued at $411,000 after buying an additional 3,295 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Alight by 68.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $46,000 after acquiring an additional 3,300 shares in the last quarter. Winslow Asset Management Inc. increased its position in shares of Alight by 21.7% during the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock worth $110,000 after acquiring an additional 3,450 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Alight during the first quarter worth $25,000. 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.