Alight (NYSE:ALIT) Stock Price Down 5.7% – Here’s What Happened

Alight, Inc. (NYSE:ALIT) was down 5.7% on Wednesday . The stock traded as low as $1.79 and last traded at $1.7910. Approximately 4,296,515 shares were traded during trading, a decline of 58% from the average daily volume of 10,231,205 shares. The stock had previously closed at $1.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALIT shares. DA Davidson restated a “buy” rating and issued a $6.00 target price on shares of Alight in a report on Monday, December 8th. Wedbush dropped their price target on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Finally, UBS Group lowered their target price on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alight presently has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Alight Trading Down 5.0%

The business has a 50-day moving average of $2.18 and a 200-day moving average of $3.50. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The stock has a market cap of $962.43 million, a price-to-earnings ratio of -0.44 and a beta of 1.08.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $533.00 million for the quarter, compared to analysts’ expectations 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 period last year, the business earned $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend was Monday, December 1st. Alight’s payout ratio is currently -3.91%.

Insider Transactions at Alight

In other Alight news, Director Kausik Rajgopal purchased 40,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the acquisition, the director owned 125,202 shares of the company’s stock, valued at $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $2.33 per share, with a total value of $233,000.00. Following the purchase, the director owned 100,000 shares in the company, valued at $233,000. The trade was a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 193,116 shares of company stock worth $448,984 in the last 90 days. 1.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Alight

A number of institutional investors have recently modified their holdings of ALIT. Wellington Management Group LLP lifted its position in Alight by 289.1% during the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock worth $45,345,000 after acquiring an additional 10,334,915 shares during the last quarter. Millennium Management LLC boosted its stake in Alight by 13,050.9% during the 3rd quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock valued at $22,703,000 after purchasing an additional 6,911,229 shares during the period. Nomura Holdings Inc. acquired a new stake in Alight in the 2nd quarter valued at approximately $32,050,000. Norges Bank bought a new position in Alight in the 2nd quarter worth approximately $28,596,000. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Alight in the third quarter valued at approximately $10,232,000. Institutional investors own 96.74% of the company’s stock.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.