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

Alight, Inc. (NYSE:ALIT) hit a new 52-week low on Monday . The company traded as low as $4.49 and last traded at $4.59, with a volume of 650221 shares. The stock had previously closed at $4.78.

Analyst Upgrades and Downgrades

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

Alight Trading Up 2.5 %

The stock has a 50 day moving average price of $6.42 and a 200 day moving average price of $6.95. The company has a market cap of $2.66 billion, a PE ratio of -16.33 and a beta of 0.97. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

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

Alight Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 3.26%. Alight’s dividend payout ratio is currently -53.33%.

Insiders Place Their Bets

In other news, Director Robert A. Schriesheim acquired 22,092 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the purchase, the director now directly owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Massey bought 100,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 125,092 shares of company stock worth $807,755. Company insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALIT. Blue Trust Inc. boosted its stake in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after acquiring an additional 1,996 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Alight in the fourth quarter worth about $50,000. Sandia Investment Management LP purchased a new stake in Alight in the fourth quarter valued at approximately $69,000. Finally, Headlands Technologies LLC purchased a new position in Alight during the 4th quarter worth approximately $84,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.