Alight (NYSE:ALIT) Hits New 12-Month Low - What's Next?

Key Points

• Alight, Inc. (NYSE:ALIT) shares reached a new 52-week low at $3.62, with a trading volume of over 1.35 million shares.
• Analysts have revised their price targets for Alight, with Needham & Company and UBS Group both lowering their targets to $6.00 and $6.50, respectively, while maintaining "buy" ratings.
• Alight reported earnings of $0.10 per share for the last quarter, in line with consensus estimates, while revenues decreased 1.9% year-over-year, totaling $528 million.

Alight, Inc. (NYSE:ALIT - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $3.62 and last traded at $3.62, with a volume of 1352594 shares traded. The stock had previously closed at $3.71.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALIT shares. Needham & Company LLC cut 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 cut their price objective on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Wedbush cut their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Alight presently has a consensus rating of "Buy" and a consensus price target of $8.75.

Alight Trading Down 3.6%

The company has a fifty day simple moving average of $4.72 and a two-hundred day simple moving average of $5.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $1.93 billion, a P/E ratio of -1.62 and a beta of 1.01.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company had revenue of $528.00 million for the quarter, compared to analyst estimates of $525.26 million. During the same period last year, the company earned $0.05 earnings per share. The business's revenue was down 1.9% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is -7.24%.

Hedge Funds Weigh In On Alight

Institutional investors have recently made changes to their positions in the business. Strs Ohio bought a new position in shares of Alight in the first quarter worth about $25,000. CWM LLC increased its stake in shares of Alight by 364.8% in the first quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after purchasing an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after purchasing an additional 2,348 shares during the period. EverSource Wealth Advisors LLC increased its stake 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 purchasing an additional 3,138 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock worth $49,000 after purchasing an additional 2,059 shares during the period. 96.74% of the stock is currently owned by 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.

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