Alight (NYSE:ALIT) Sets New 12-Month Low – Time to Sell?

Alight, Inc. (NYSE:ALIT)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.08 and last traded at $6.06, with a volume of 240883 shares changing hands. The stock had previously closed at $6.16.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Alight in a report on Friday, February 21st. Canaccord Genuity Group lifted their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, KeyCorp lifted their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.61.

Alight Trading Up 0.2 %

The business’s 50-day moving average price is $6.71 and its 200 day moving average price is $7.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -20.15 and a beta of 0.94.

Alight (NYSE:ALIT) last posted its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The firm had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. On average, equities analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.65%. Alight’s payout ratio is currently -53.33%.

Insider Transactions at Alight

In related news, Director Robert A. Schriesheim purchased 22,092 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now directly owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now directly owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

Institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC bought a new stake in Alight during the third quarter valued at $5,063,000. Highland Peak Capital LLC bought a new position in shares of Alight during the third quarter worth about $5,315,000. JPMorgan Chase & Co. grew its position in shares of Alight by 202.8% during the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock worth $13,794,000 after acquiring an additional 1,248,465 shares during the last quarter. Wexford Capital LP grew its position in shares of Alight by 320.2% during the third quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock worth $814,000 after acquiring an additional 83,822 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Alight during the third quarter worth about $1,834,000. Institutional investors own 96.74% of the company’s stock.

Alight Company Profile

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.