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

Alight, Inc. (NYSE:ALIT)’s share price reached a new 52-week low on Wednesday . The stock 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.

Analyst Upgrades and Downgrades

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

Alight Price Performance

The firm has a market cap 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 current ratio of 1.21 and a quick ratio of 1.21. The company’s 50-day moving average is $1.80 and its two-hundred day moving average is $2.77.

Insider Activity

In other Alight news, Director Kausik Rajgopal bought 40,000 shares of Alight stock in a transaction on 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 acquisition, the director directly owned 125,202 shares of the company’s stock, valued at $280,452.48. The trade was a 46.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Schriesheim purchased 42,098 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average price of $2.38 per share, for a total transaction of $100,193.24. Following the transaction, the director directly owned 109,130 shares in the company, valued at approximately $259,729.40. This trade represents a 62.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 193,116 shares of company stock valued at $448,984. 1.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. TradeLink Capital LLC acquired a new position in Alight during the 4th quarter valued at about $25,000. Strs Ohio purchased a new position in shares of Alight during the first quarter valued at approximately $25,000. Moss Adams Wealth Advisors LLC purchased a new position in shares of Alight during the fourth quarter valued at approximately $26,000. Allworth Financial LP grew its holdings in Alight by 848.5% during the fourth quarter. Allworth Financial LP now owns 14,920 shares of the company’s stock worth $29,000 after buying an additional 13,347 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Alight by 152.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after buying an additional 3,138 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Company Profile

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.