Alight (NYSE:ALIT) Hits New 52-Week Low – Here’s Why

Alight, Inc. (NYSE:ALIT) shares 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.

Wall Street Analysts Forecast Growth

ALIT has been the subject of several recent 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. Wedbush reaffirmed 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 reiterated a “buy” rating and set a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.19.

Alight Stock Down 1.9 %

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $6.52 and a two-hundred day simple moving average of $6.99. The stock has a market capitalization of $3.16 billion, a P/E ratio of -19.38 and a beta of 0.94.

Alight (NYSE:ALIT) last posted its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share 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 firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Equities research analysts forecast 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 paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio (DPR) is currently -53.33%.

Insider Buying and Selling

In related news, Director Richard N. Massey bought 100,000 shares of the company’s 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 completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert A. Schriesheim purchased 22,092 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the purchase, the director now directly owns 22,092 shares of the company’s stock, valued at $150,004.68. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 125,092 shares of company stock worth $807,755 in the last three months. Insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. raised its position 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 acquiring an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after purchasing an additional 1,996 shares during the period. Venturi Wealth Management LLC bought a new stake in Alight during the 4th quarter worth about $50,000. Sandia Investment Management LP acquired a new position in Alight during the 4th quarter valued at about $69,000. Finally, Headlands Technologies LLC bought a new position in shares of Alight in the 4th quarter valued at about $84,000. Institutional investors and hedge funds 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.