Alight (NYSE:ALIT) Sets New 1-Year Low – Should You Sell?

Alight, Inc. (NYSE:ALIT)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $6.08 and last traded at $6.06, with a volume of 240883 shares trading hands. The stock had previously closed at $6.16.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALIT. KeyCorp increased their price target on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Alight in a research note on Friday, February 21st. Finally, Canaccord Genuity Group upped their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.61.

Alight Price Performance

The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -20.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The company has a 50-day simple moving average of $6.74 and a two-hundred day simple moving average of $7.12.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. As a group, equities research analysts forecast that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Monday, March 3rd. Alight’s dividend payout ratio is presently -53.33%.

Insider Activity at Alight

In other news, Director Robert A. Schriesheim acquired 22,092 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now directly owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.33% of the stock is owned by company insiders.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Starboard Value LP raised its position in shares of Alight by 8.8% in the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock valued at $326,818,000 after buying an additional 3,833,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Alight by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock worth $282,898,000 after buying an additional 292,911 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Alight by 13.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company’s stock valued at $168,130,000 after buying an additional 2,901,108 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Alight by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company’s stock valued at $157,215,000 after buying an additional 1,153,963 shares in the last quarter. Finally, Cooper Creek Partners Management LLC boosted its position in shares of Alight by 23.1% during the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock worth $122,514,000 after acquiring an additional 3,322,705 shares in the last quarter. Institutional investors and hedge funds 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.