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

Alight, Inc. (NYSE:ALIT) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $5.76 and last traded at $5.84, with a volume of 514163 shares changing hands. The stock had previously closed at $5.92.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. DA Davidson reiterated a “buy” rating and issued a $10.00 price target on shares of Alight in a research report on Wednesday, March 26th. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of Alight in a research report on Tuesday, March 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Monday, March 24th. 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 has an average rating of “Moderate Buy” and a consensus target price of $10.19.

Alight Trading Down 0.4 %

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 stock has a fifty day moving average of $6.56 and a 200 day moving average of $7.01. The company has a market capitalization of $3.20 billion, a PE ratio of -19.65 and a beta of 0.94.

Alight (NYSE:ALIT) last issued its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The company had revenue of $680.00 million for 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%. As a group, sell-side analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 2.71%. Alight’s dividend payout ratio (DPR) is -53.33%.

Insider Transactions at Alight

In other Alight news, Director Robert A. Schriesheim bought 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $6.39 per share, with a total value of $639,000.00. Following the acquisition, the director now owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 125,092 shares of company stock valued at $807,755 in the last ninety days. Corporate insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

Large investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after buying an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Alight by 65.5% in 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 last quarter. Venturi Wealth Management LLC purchased a new position in shares of Alight during the 4th quarter worth about $50,000. Sandia Investment Management LP bought a new position in Alight during the 4th quarter valued at about $69,000. Finally, Headlands Technologies LLC purchased a new stake in Alight in the 4th quarter worth about $84,000. Institutional investors own 96.74% of the company’s stock.

About Alight

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.