Alight (NYSE:ALIT) Hits New 52-Week Low - Should You Sell?

Key Points

• Alight, Inc. reached a new 52-week low of $2.98 during trading, closing at $3.00 with a significant volume of over 4 million shares.
• Analysts have revised their price targets for Alight, with recommendations ranging from "buy" to "sell," reflecting a consensus rating of "Moderate Buy" and a target price of $8.75.
• The company reported earnings of $0.10 EPS for the last quarter, meeting analyst expectations but showing a year-over-year revenue decline of 1.9%.

Alight, Inc. (NYSE:ALIT - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $2.98 and last traded at $3.00, with a volume of 4109316 shares. The stock had previously closed at $3.08.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALIT shares. Needham & Company LLC decreased their price target on Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. UBS Group cut their target price on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alight in a research note on Wednesday, October 8th. Finally, Wedbush dropped their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Alight currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.75.

Alight Stock Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.62 billion, a P/E ratio of -1.36 and a beta of 1.02. The business has a fifty day moving average of $3.57 and a 200 day moving average of $4.78.

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

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, September 2nd. Alight's dividend payout ratio is currently -7.24%.

Hedge Funds Weigh In On Alight

A number of institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC bought a new position in Alight in the second quarter worth $139,000. Neuberger Berman Group LLC raised its holdings in Alight by 2.7% in the second quarter. Neuberger Berman Group LLC now owns 6,147,909 shares of the company's stock worth $34,777,000 after purchasing an additional 162,752 shares in the last quarter. Nomura Holdings Inc. bought a new position in Alight in the second quarter worth $32,050,000. Winslow Asset Management Inc. increased its holdings in shares of Alight by 21.7% during the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company's stock valued at $110,000 after acquiring an additional 3,450 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Alight by 37.9% during the second quarter. Tower Research Capital LLC TRC now owns 50,810 shares of the company's stock valued at $288,000 after acquiring an additional 13,960 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

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.

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