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

Alight, Inc. (NYSE:ALIT) hit a new 52-week low on Monday . The company traded as low as $1.89 and last traded at $1.9850, with a volume of 1720354 shares changing hands. The stock had previously closed at $1.98.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALIT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Needham & Company LLC decreased their price objective on Alight from $8.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group lowered their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, Wedbush cut their target price 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. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.25.

Alight Stock Up 4.3%

The business has a 50 day moving average of $2.89 and a two-hundred day moving average of $4.27. The stock has a market capitalization of $1.10 billion, a PE ratio of -0.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21.

Alight (NYSE:ALIT) last announced its earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $533.00 million during the quarter, compared to the consensus estimate of $539.43 million. Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. Analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Monday, December 1st. Alight’s payout ratio is -3.91%.

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently bought and sold shares of ALIT. Strs Ohio acquired a new position in shares of Alight during the first quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake in Alight by 152.1% during the 2nd 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 last quarter. CWM LLC grew its stake in Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company’s stock worth $30,000 after buying an additional 4,006 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Alight by 82.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock valued at $31,000 after buying an additional 2,348 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in Alight in the third quarter valued at about $31,000. 96.74% of the stock is owned by hedge funds and other 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.