Alight (NYSE:ALIT) Stock Set to Reverse Split on Tuesday, June 30th

Shares of Alight, Inc. (NYSE:ALIT) are set to reverse split on the morning of Tuesday, June 30th. The 1-20 reverse split was announced on Thursday, June 18th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 29th.

Alight Price Performance

Shares of NYSE:ALIT traded down $0.02 during mid-day trading on Thursday, reaching $0.57. The stock had a trading volume of 38,805,994 shares, compared to its average volume of 27,889,953. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92. The company has a market cap of $307.34 million, a P/E ratio of -0.10, a price-to-earnings-growth ratio of 0.19 and a beta of 1.60. Alight has a 1 year low of $0.48 and a 1 year high of $6.11. The business’s 50 day moving average price is $0.74 and its 200 day moving average price is $1.17.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $534.00 million during the quarter, compared to analyst estimates of $502.74 million. Alight had a positive return on equity of 13.04% and a negative net margin of 137.50%. Research analysts expect that Alight will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. KeyCorp lowered shares of Alight from an “overweight” rating to a “sector weight” rating in a research report on Thursday, February 19th. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Needham & Company LLC cut shares of Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Citigroup downgraded shares of Alight from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.50 to $1.00 in a report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. TradeLink Capital LLC purchased a new stake in shares of Alight in the fourth quarter valued at $25,000. Strs Ohio bought a new position in Alight during the 1st quarter valued at about $25,000. Moss Adams Wealth Advisors LLC bought a new position in Alight during the 4th quarter valued at about $26,000. Renaissance Technologies LLC purchased a new stake in Alight in the 4th quarter worth about $26,000. Finally, Evolve Private Wealth LLC purchased a new stake in Alight in the 1st quarter worth about $27,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.