Alight (NYSE:ALIT) Sets New 52-Week Low – Time to Sell?

Alight, Inc. (NYSE:ALIT) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $5.76 and last traded at $5.84, with a volume of 514163 shares trading hands. The stock had previously closed at $5.92.

Analysts Set New Price Targets

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

Alight Stock Down 0.4 %

The company’s fifty day simple moving average is $6.56 and its 200-day simple moving average is $7.01. 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 $3.20 billion, a PE ratio of -19.65 and a beta of 0.94.

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

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Insider Buying and Selling

In other Alight 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 bought at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard N. Massey acquired 100,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the purchase, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 125,092 shares of company stock worth $807,755 in the last 90 days. Insiders own 5.33% of the company’s stock.

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently made changes to their positions in ALIT. Starboard Value LP lifted its holdings in shares of Alight by 8.8% in the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock valued at $326,818,000 after buying an additional 3,833,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alight by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock valued at $282,898,000 after purchasing an additional 292,911 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in Alight by 13.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company’s stock worth $168,130,000 after buying an additional 2,901,108 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Alight by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company’s stock valued at $157,215,000 after buying an additional 1,153,963 shares during the period. Finally, Cooper Creek Partners Management LLC increased its holdings in Alight by 23.1% in the fourth quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock valued at $122,514,000 after buying an additional 3,322,705 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.