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

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALIT. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Alight in a research report on Monday, March 24th. Wedbush reiterated an “outperform” rating and issued a $11.00 target price on shares of Alight in a research report on Tuesday, March 25th. Finally, DA Davidson restated a “buy” rating and issued a $10.00 price target on shares of Alight in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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 stock’s 50-day simple moving average is $6.42 and its 200 day simple moving average is $6.95. The company has a market capitalization of $2.66 billion, a PE ratio of -16.33 and a beta of 0.97.

Alight (NYSE:ALIT) last announced 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 negative net margin of 5.53% and a positive return on equity of 5.42%. The company had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $675.66 million. As a group, research analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

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

Insider Activity

In other news, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard N. Massey acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents 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 over the last quarter. Corporate insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in Alight by 202.8% during the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock worth $13,794,000 after buying an additional 1,248,465 shares during the period. Weiss Asset Management LP purchased a new stake in shares of Alight in the third quarter worth about $1,512,000. Geode Capital Management LLC lifted its position in Alight by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock worth $74,521,000 after acquiring an additional 77,948 shares in the last quarter. State Street Corp grew its position in Alight by 1.2% in the third quarter. State Street Corp now owns 11,905,766 shares of the company’s stock valued at $88,103,000 after acquiring an additional 141,828 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Alight by 148.2% in the 3rd quarter. Barclays PLC now owns 815,841 shares of the company’s stock worth $6,037,000 after buying an additional 487,185 shares in the last quarter. Hedge funds and other 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.