Alight (NYSE:ALIT) Sets New 12-Month Low – Here’s Why

Alight, Inc. (NYSE:ALIT)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $2.24 and last traded at $2.2950, with a volume of 13515753 shares. The stock had previously closed at $2.35.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALIT shares. Needham & Company LLC lowered their target price on Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. UBS Group decreased their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday. Wedbush lowered their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.00.

Alight Stock Down 3.0%

The firm’s 50-day simple moving average is $3.22 and its 200 day simple moving average is $4.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $1.23 billion, a P/E ratio of -0.56 and a beta of 1.02.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $533.00 million during the quarter, compared to the consensus estimate of $539.43 million. Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Monday, December 1st. Alight’s dividend payout ratio is presently -3.91%.

Institutional Trading of Alight

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Alight by 0.5% in the third quarter. Vanguard Group Inc. now owns 42,578,749 shares of the company’s stock valued at $138,807,000 after purchasing an additional 223,377 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Alight by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company’s stock valued at $146,173,000 after buying an additional 1,930,440 shares in the last quarter. Rubric Capital Management LP increased its holdings in Alight by 10.8% during the second quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock worth $111,089,000 after buying an additional 1,906,140 shares during the last quarter. State Street Corp increased its holdings in Alight by 2.0% during the second quarter. State Street Corp now owns 12,115,866 shares of the company’s stock worth $68,576,000 after buying an additional 241,965 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Alight by 1.3% during the second quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock worth $58,950,000 after acquiring an additional 135,109 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

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.