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

Alight, Inc. (NYSE:ALIT) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.59 and last traded at $1.6050, with a volume of 10621739 shares. The stock had previously closed at $1.66.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wedbush dropped their target price 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. DA Davidson reissued a “buy” rating and set a $6.00 target price on shares of Alight in a research note on Monday, December 8th. UBS Group reduced their target price on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, KeyCorp lowered their price target on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and a consensus price target of $4.70.

Alight Stock Down 3.3%

The business’s 50 day simple moving average is $2.07 and its 200-day simple moving average is $3.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $855.79 million, a price-to-earnings ratio of -0.39 and a beta of 1.08.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $533.00 million during 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 company’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. Sell-side analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 10.0%. The ex-dividend date was Monday, December 1st. Alight’s payout ratio is currently -3.91%.

Insider Buying and Selling

In other news, Director Kausik Rajgopal acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the completion of the acquisition, the director owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This represents a 46.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction on Wednesday, November 26th. The stock was acquired at an average price of $2.33 per share, with a total value of $233,000.00. Following the completion of the purchase, the director directly owned 100,000 shares of the company’s stock, valued at approximately $233,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 193,116 shares of company stock worth $448,984. Insiders own 1.93% of the company’s stock.

Institutional Trading of Alight

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in shares of Alight by 3.6% in the 1st quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock valued at $948,000 after acquiring an additional 5,525 shares in the last quarter. AQR Capital Management LLC acquired a new position in Alight during the first quarter valued at approximately $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Alight by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock valued at $1,481,000 after purchasing an additional 10,893 shares during the period. Jones Financial Companies Lllp raised its position in shares of Alight by 1,776.2% in the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after purchasing an additional 10,657 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alight by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock worth $6,091,000 after buying an additional 66,771 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.