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

Shares of Alight, Inc. (NYSE:ALIT) traded down 5.7% on Wednesday . The stock traded as low as $1.79 and last traded at $1.7910. Approximately 4,296,515 shares traded hands during mid-day 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 Analyst Weigh In

ALIT has been the topic of a number of analyst reports. Wedbush lowered their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. UBS Group reduced their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, KeyCorp lowered their price objective on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.70.

Alight Stock Down 2.6%

The firm has a 50 day moving average of $2.14 and a two-hundred day moving average of $3.47. The stock has a market capitalization of $882.45 million, a PE ratio of -0.40 and a beta of 1.08. 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 announced 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). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The firm had revenue of $533.00 million during the quarter, compared to analysts’ expectations of $539.43 million. During the same quarter in the prior year, the business earned $0.09 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. Equities research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 9.7%. Alight’s payout ratio is currently -3.91%.

Insider Buying and Selling at Alight

In other news, Director Richard N. Massey acquired 100,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were purchased at an average price of $2.33 per share, for a total transaction of $233,000.00. Following the acquisition, the director directly owned 100,000 shares of the company’s stock, valued at $233,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kausik Rajgopal purchased 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were bought at an average cost of $2.24 per share, with a total value of $89,600.00. Following the transaction, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This represents a 46.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 193,116 shares of company stock worth $448,984 in the last quarter. 1.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALIT. Vanguard Group Inc. boosted its position in shares of Alight by 0.5% in the third quarter. Vanguard Group Inc. now owns 42,578,749 shares of the company’s stock worth $138,807,000 after buying an additional 223,377 shares during the period. Dimensional Fund Advisors LP lifted its stake in Alight by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock worth $84,558,000 after acquiring an additional 348,285 shares in the last quarter. Rubric Capital Management LP boosted its position in Alight by 10.8% during the 2nd quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock worth $111,089,000 after acquiring an additional 1,906,140 shares during the period. Cooper Creek Partners Management LLC grew its stake in Alight by 6.6% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock valued at $62,488,000 after acquiring an additional 1,187,092 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Alight by 289.1% in the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock valued at $45,345,000 after purchasing an additional 10,334,915 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.