Alight (NYSE:ALIT) Reaches New 1-Year Low – What’s Next?

Alight, Inc. (NYSE:ALIT) hit a new 52-week low on Wednesday . The company traded as low as $1.44 and last traded at $1.4450, with a volume of 2251830 shares traded. The stock had previously closed at $1.51.

Wall Street Analysts Forecast Growth

ALIT has been the subject of a number of research analyst reports. DA Davidson reduced their target price on Alight from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. Wedbush decreased their target price on Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. UBS Group lowered their target price on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, KeyCorp reduced their price target on shares of Alight from $6.00 to $2.50 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Five research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.50.

Alight Stock Performance

The company has a market cap of $690.49 million, a P/E ratio of -0.32 and a beta of 1.09. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $1.75 and a two-hundred day simple moving average of $2.72.

Insider Buying and Selling

In other Alight news, Director Kausik Rajgopal acquired 40,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was purchased at an average price of $2.24 per share, with a total value of $89,600.00. Following the transaction, the director directly owned 125,202 shares in the company, valued at approximately $280,452.48. The trade was a 46.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert A. Schriesheim acquired 42,098 shares of Alight stock in a transaction dated Wednesday, November 26th. The stock was bought at an average price of $2.38 per share, with a total value of $100,193.24. Following the completion of the purchase, the director directly owned 109,130 shares in the company, valued at $259,729.40. This represents a 62.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 193,116 shares of company stock valued at $448,984. 1.93% of the stock is owned by insiders.

Institutional Trading of Alight

A number of hedge funds and other institutional investors have recently bought and sold shares of ALIT. Vanguard Group Inc. lifted its position in shares of Alight by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 43,783,776 shares of the company’s stock valued at $85,378,000 after buying an additional 1,205,027 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Alight by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock worth $84,558,000 after acquiring an additional 348,285 shares during the period. Goldman Sachs Group Inc. raised its stake in Alight by 87.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock worth $48,316,000 after acquiring an additional 11,534,921 shares during the period. Rubric Capital Management LP lifted its holdings in Alight by 10.8% during the second quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock valued at $111,089,000 after purchasing an additional 1,906,140 shares in the last quarter. Finally, Cooper Creek Partners Management LLC boosted its position in shares of Alight by 6.6% in the third quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock worth $62,488,000 after purchasing an additional 1,187,092 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.