Alight (NYSE:ALIT) Sets New 12-Month Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

ALIT has been the topic of several research reports. KeyCorp raised their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Alight in a research report on Friday, February 21st. Finally, Canaccord Genuity Group raised their price objective on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alight presently has an average rating of “Moderate Buy” and an average price target of $10.61.

Alight Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The company’s 50 day moving average is $6.71 and its 200 day moving average is $7.11. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -20.15 and a beta of 0.94.

Alight (NYSE:ALIT) last announced its quarterly earnings data 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 analyst estimates of $675.66 million. Research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s payout ratio is currently -53.33%.

Insiders Place Their Bets

In other Alight news, Director Richard N. Massey bought 100,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was bought 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 owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. The trade was a 6.79 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now owns 22,092 shares of the company’s stock, valued at $150,004.68. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 5.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alight

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Alight by 107.6% during 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 in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after buying an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Alight during 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, Oppenheimer & Co. Inc. purchased a new stake in Alight in the third quarter valued at approximately $74,000. 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.