Alight (NYSE:ALIT) Reaches New 1-Year Low – Should You Sell?

Alight, Inc. (NYSE:ALIT) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.28 and last traded at $1.3050, with a volume of 550733 shares traded. The stock had previously closed at $1.30.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Bank of America assumed coverage on Alight in a research report on Tuesday. They set an “underperform” rating and a $1.40 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. UBS Group lowered their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wedbush cut their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Finally, DA Davidson decreased their price target on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Alight currently has an average rating of “Hold” and an average target price of $3.98.

Alight Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average of $1.73 and a 200 day moving average of $2.66. The firm has a market capitalization of $685.16 million, a PE ratio of -0.31 and a beta of 1.09.

Insiders Place Their Bets

In other Alight news, Director Robert A. Schriesheim bought 42,098 shares of Alight stock in a transaction dated Wednesday, November 26th. The stock was bought at an average cost of $2.38 per share, with a total value of $100,193.24. Following the completion of the acquisition, the director directly owned 109,130 shares in the company, valued at approximately $259,729.40. The trade was a 62.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was acquired at an average cost of $2.33 per share, for a total transaction of $233,000.00. Following the transaction, the director owned 100,000 shares of the company’s stock, valued at approximately $233,000. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 193,116 shares of company stock valued at $448,984. Corporate insiders own 1.93% of the company’s stock.

Institutional Trading of Alight

A number of large investors have recently added to or reduced their stakes in the stock. TradeLink Capital LLC bought a new position in shares of Alight during the 4th quarter valued at approximately $25,000. Strs Ohio purchased a new position in Alight in the first quarter valued at approximately $25,000. Moss Adams Wealth Advisors LLC bought a new position in Alight during the fourth quarter valued at $26,000. Renaissance Technologies LLC purchased a new stake in Alight in the fourth quarter worth $26,000. Finally, Allworth Financial LP raised its stake in shares of Alight by 848.5% in the fourth quarter. Allworth Financial LP now owns 14,920 shares of the company’s stock valued at $29,000 after buying an additional 13,347 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

About Alight

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.