Alight (NYSE:ALIT) Hits New 1-Year Low – What’s Next?

Alight, Inc. (NYSE:ALIT)’s stock price hit a new 52-week low on Monday . The company traded as low as $5.76 and last traded at $5.84, with a volume of 514163 shares. The stock had previously closed at $5.92.

Wall Street Analyst Weigh In

ALIT has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Alight in a report on Monday, March 24th. DA Davidson reaffirmed a “buy” rating and set a $10.00 target price on shares of Alight in a research report on Wednesday, March 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Alight in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.19.

Alight Stock Performance

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 firm has a 50 day moving average of $6.52 and a 200-day moving average of $6.99. The stock has a market capitalization of $3.16 billion, a PE ratio of -19.38 and a beta of 0.94.

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

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 2.75%. Alight’s payout ratio is -53.33%.

Insiders Place Their Bets

In other Alight news, Director Robert A. Schriesheim bought 22,092 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now directly owns 22,092 shares of the company’s stock, valued at $150,004.68. This represents a ∞ 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 purchased 100,000 shares of Alight stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 125,092 shares of company stock valued at $807,755 in the last three months. Insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALIT. Norges Bank bought a new stake in Alight during the fourth quarter worth approximately $35,045,000. Starboard Value LP lifted its stake 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 worth $326,818,000 after buying an additional 3,833,000 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings 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 buying an additional 3,322,705 shares during the period. American Century Companies Inc. grew its stake in Alight by 214.0% in the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company’s stock valued at $31,839,000 after buying an additional 3,135,846 shares during the last quarter. Finally, J. Goldman & Co LP raised its holdings in Alight by 105.3% in the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company’s stock worth $39,960,000 after acquiring an additional 2,961,443 shares during the period. 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.