Alight (NYSE:ALIT) Reaches New 52-Week Low on Analyst Downgrade

Shares of Alight, Inc. (NYSE:ALIT) hit a new 52-week low during mid-day trading on Thursday after KeyCorp lowered their price target on the stock from $6.00 to $2.50. KeyCorp currently has an overweight rating on the stock. Alight traded as low as $1.75 and last traded at $1.7620, with a volume of 14716630 shares traded. The stock had previously closed at $1.90.

ALIT has been the subject of a number of other research reports. Wedbush lowered their target price on Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. UBS Group reduced their price objective on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Finally, DA Davidson restated a “buy” rating and issued a $6.00 target price on shares of Alight in a research note on Monday, December 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.70.

Insiders Place Their Bets

In related news, Director Kausik Rajgopal bought 40,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were purchased at an average price of $2.24 per share, with a total value of $89,600.00. Following the completion of the purchase, the director owned 125,202 shares in the company, valued at $280,452.48. This represents a 46.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert A. Schriesheim purchased 42,098 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average price of $2.38 per share, with a total value of $100,193.24. Following the completion of the purchase, the director directly owned 109,130 shares in the company, valued at $259,729.40. The trade was a 62.80% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 193,116 shares of company stock valued at $448,984. 1.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio acquired a new stake in Alight during the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Alight by 68.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $46,000 after purchasing an additional 3,300 shares during the period. Danske Bank A S bought a new stake in shares of Alight in the third quarter worth $31,000. Finally, Evergreen Capital Management LLC acquired a new stake in Alight in the third quarter valued at $35,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Performance

The firm has a market capitalization of $882.45 million, a P/E ratio of -0.40 and a beta of 1.08. The company has a 50-day moving average of $2.11 and a 200-day moving average of $3.45. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99.

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

Alight Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.04 per share. The ex-dividend date was Monday, December 1st. This represents a $0.16 annualized dividend and a yield of 9.7%. Alight’s dividend payout ratio (DPR) is presently -3.91%.

Alight Company Profile

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.