Alight (NYSE:ALIT) Reaches New 1-Year 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) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.62 and last traded at $3.62, with a volume of 1352594 shares trading hands. The stock had previously closed at $3.71.

Analysts Set New Price Targets

Several analysts recently issued reports on ALIT shares. Wedbush reduced their price target on shares of Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. UBS Group reduced their price target on shares of Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Needham & Company LLC reduced their price target on shares of Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Alight has an average rating of "Buy" and an average price target of $8.75.

Alight Price Performance

The firm has a market capitalization of $1.93 billion, a PE ratio of -1.62 and a beta of 1.02. The business has a 50-day moving average of $4.58 and a 200 day moving average of $5.22. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The business had revenue of $528.00 million during the quarter, compared to analyst estimates of $525.26 million. During the same period in the prior year, the firm posted $0.05 EPS. Alight's quarterly 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. As a group, research analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.16 annualized dividend and a yield of 4.5%. Alight's payout ratio is currently -7.24%.

Institutional Investors Weigh In On Alight

Large investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in Alight in the first quarter worth $25,000. EverSource Wealth Advisors LLC increased its position in 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 buying an additional 3,138 shares during the last quarter. CWM LLC increased its position in Alight by 364.8% in the first 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% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after buying an additional 2,348 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Alight by 5,505.8% in the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after buying an additional 7,653 shares during the last quarter. Hedge funds and other institutional investors 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.