Alight (NYSE:ALIT) Hits New 1-Year Low - Here's What Happened

Alight, Inc. (NYSE:ALIT - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $4.49 and last traded at $4.59, with a volume of 650221 shares. The stock had previously closed at $4.78.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 target price on shares of Alight in a report on Monday, March 24th. Wedbush reiterated an "outperform" rating and set a $11.00 target price on shares of Alight in a research report on Tuesday, March 25th. Finally, DA Davidson restated a "buy" rating and issued a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.19.

Alight Price Performance

The business's 50-day moving average price is $6.16 and its 200 day moving average price is $6.84. The company has a market capitalization of $2.69 billion, a P/E ratio of -16.49 and a beta of 0.97. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

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Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.04 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 3.23%. Alight's payout ratio is currently -53.33%.

Insider Transactions at Alight

In other news, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now owns 22,092 shares of the company's stock, valued at $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 125,092 shares of company stock valued at $807,755. 5.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALIT. Blue Trust Inc. boosted its holdings in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after acquiring an additional 1,729 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock valued at $37,000 after purchasing an additional 1,996 shares during the period. Cornerstone Investment Partners LLC grew its holdings in shares of Alight by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company's stock worth $468,000 after purchasing an additional 2,356 shares during the last quarter. Xponance Inc. increased its stake in shares of Alight by 8.8% in the fourth quarter. Xponance Inc. now owns 30,229 shares of the company's stock worth $209,000 after buying an additional 2,437 shares during the period. Finally, Shay Capital LLC raised its holdings in Alight by 2.4% during the 4th quarter. Shay Capital LLC now owns 128,000 shares of the company's stock valued at $886,000 after buying an additional 3,000 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.