Alight (NYSE:ALIT) Price Target Lowered to $5.00 at Wedbush

Alight (NYSE:ALIT) had its price objective reduced by Wedbush from $7.00 to $5.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. 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 report on Wednesday, August 6th. Needham & Company LLC dropped their price objective on Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.00.

Alight Stock Performance

Shares of ALIT opened at $2.38 on Thursday. The firm has a market capitalization of $1.28 billion, a PE ratio of -0.58 and a beta of 1.02. 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 firm has a 50-day moving average price of $3.25 and a 200 day moving average price of $4.51. Alight has a 52-week low of $2.36 and a 52-week high of $8.93.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $533.00 million during the quarter, compared to analyst estimates of $539.43 million. Alight had a positive return on equity of 6.94% and a negative net margin of 94.23%.The company’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, sell-side analysts anticipate that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Monday, December 1st. Alight’s dividend payout ratio is -3.91%.

Hedge Funds Weigh In On Alight

Hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new stake in shares of Alight during the first quarter valued at $25,000. EverSource Wealth Advisors LLC raised its holdings 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 period. CWM LLC lifted its stake in Alight by 364.8% during the first quarter. CWM LLC now owns 5,104 shares of the company’s stock valued at $30,000 after buying an additional 4,006 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Alight by 82.8% during the first 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, Evergreen Capital Management LLC acquired a new position in shares of Alight in the third quarter worth about $35,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.