Alight (NYSE:ALIT) Trading Down 5.7% – Should You Sell?
by Kim Johansen · The Markets DailyAlight, Inc. (NYSE:ALIT – Get Free Report)’s share price fell 5.7% during mid-day trading on Wednesday . The company traded as low as $1.79 and last traded at $1.7910. 4,296,515 shares were traded during trading, a decline of 58% from the average session volume of 10,231,205 shares. The stock had previously closed at $1.90.
Wall Street Analyst Weigh In
Several equities research analysts have commented on ALIT shares. Wedbush dropped their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $6.00 price target on shares of Alight in a research report on Monday, December 8th. Finally, UBS Group lowered their price target on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.25.
View Our Latest Research Report on Alight
Alight Stock Performance
The stock has a market cap of $962.43 million, a P/E ratio of -0.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21. The company has a fifty day moving average of $2.18 and a 200 day moving average of $3.50.
Alight (NYSE:ALIT – Get Free Report) last issued 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 firm had revenue of $533.00 million for the quarter, compared to analyst estimates of $539.43 million. Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, equities analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal 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 paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.16 annualized dividend and a dividend yield of 8.9%. Alight’s payout ratio is currently -3.91%.
Insider Buying and Selling
In related news, Director Kausik Rajgopal purchased 40,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $2.24 per share, with a total value of $89,600.00. Following the completion of the acquisition, the director owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This represents a 46.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction dated Wednesday, November 26th. The shares were bought at an average cost of $2.33 per share, with a total value of $233,000.00. Following the completion of the purchase, the director owned 100,000 shares in the company, valued at approximately $233,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 193,116 shares of company stock worth $448,984 in the last ninety days. 1.93% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Alight
Several hedge funds have recently modified their holdings of ALIT. Strs Ohio purchased a new position in Alight in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Alight by 152.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after buying an additional 3,138 shares during the period. Danske Bank A S purchased a new position in shares of Alight in the third quarter worth approximately $31,000. Evergreen Capital Management LLC acquired a new stake in shares of Alight during the third quarter valued at approximately $35,000. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in shares of Alight in the 3rd quarter valued at approximately $37,000. 96.74% of the stock is owned by hedge funds and other institutional investors.
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.