Alight (NYSE:ALIT) Stock Price Down 3.5% – Here’s What Happened

Shares of Alight, Inc. (NYSE:ALIT) were down 3.5% on Thursday . The company traded as low as $2.05 and last traded at $2.0450. Approximately 1,414,554 shares were traded during trading, a decline of 84% from the average daily volume of 8,883,427 shares. The stock had previously closed at $2.12.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALIT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Wedbush decreased their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. DA Davidson restated 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 decreased their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Alight Trading Down 1.7%

The stock’s 50 day simple moving average is $2.49 and its 200 day simple moving average is $3.85. The firm has a market cap of $1.11 billion, a PE ratio of -0.51 and a beta of 1.09. 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 posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The company had revenue of $533.00 million for the quarter, compared to analysts’ expectations of $539.43 million. During the same quarter last year, the business posted $0.09 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, sell-side analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

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

Insiders Place Their Bets

In other news, Director Kausik Rajgopal bought 40,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was acquired at an average price of $2.24 per share, with a total value of $89,600.00. Following the completion of the purchase, the director directly owned 125,202 shares in the company, valued at $280,452.48. This represents a 46.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were acquired at an average cost of $2.33 per share, for a total transaction of $233,000.00. Following the completion of the purchase, the director directly owned 100,000 shares of the company’s stock, valued at approximately $233,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 193,116 shares of company stock valued at $448,984 over the last quarter. 1.93% of the stock is owned by corporate insiders.

Institutional Trading of Alight

Several hedge funds have recently added to or reduced their stakes in ALIT. EverSource Wealth Advisors LLC boosted its position in Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after buying an additional 3,138 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Alight by 4.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock valued at $411,000 after acquiring an additional 3,295 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Alight by 68.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock valued at $46,000 after acquiring an additional 3,300 shares during the period. Winslow Asset Management Inc. grew its position in Alight by 21.7% during the 2nd quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock worth $110,000 after acquiring an additional 3,450 shares during the last quarter. Finally, Strs Ohio bought a new stake in Alight in the first quarter valued at approximately $25,000. 96.74% of the stock is owned by institutional investors.

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.