Alight (NYSE:ALIT) Shares Up 7.5% – What’s Next?

Alight, Inc. (NYSE:ALIT)’s share price was up 7.5% on Tuesday . The company traded as high as $1.60 and last traded at $1.6450. Approximately 1,872,515 shares traded hands during trading, a decline of 81% from the average daily volume of 10,027,574 shares. The stock had previously closed at $1.53.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ALIT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. UBS Group dropped their price target on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. KeyCorp decreased their price objective on Alight from $6.00 to $2.50 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. DA Davidson reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Alight in a research note on Monday, December 8th. Finally, Wedbush cut their target price on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.70.

Alight Stock 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 stock has a market cap of $866.45 million, a PE ratio of -0.40 and a beta of 1.08. The business’s 50-day moving average price is $1.93 and its 200-day moving average price is $3.09.

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 the consensus estimate of $0.13 by ($0.01). The business 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 7.89% and a negative net margin of 94.23%.Alight’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, equities research analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.04 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 9.8%. Alight’s dividend payout ratio is -3.91%.

Insider Transactions at Alight

In related news, Director Kausik Rajgopal bought 40,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average cost of $2.24 per share, for a total transaction of $89,600.00. Following the acquisition, the director directly owned 125,202 shares in the company, valued at approximately $280,452.48. This trade represents a 46.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert A. Schriesheim acquired 42,098 shares of the stock in a transaction on Wednesday, November 26th. The shares were bought at an average cost of $2.38 per share, for a total transaction of $100,193.24. Following the purchase, the director directly owned 109,130 shares of the company’s stock, valued at $259,729.40. The trade was a 62.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 193,116 shares of company stock valued at $448,984 in the last three months. 1.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALIT. Wellington Management Group LLP increased its position in shares of Alight by 289.1% during the third quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock valued at $45,345,000 after acquiring an additional 10,334,915 shares during the last quarter. Millennium Management LLC increased its holdings in Alight by 13,050.9% in the 3rd quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock valued at $22,703,000 after purchasing an additional 6,911,229 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Alight in the 2nd quarter valued at approximately $32,050,000. Norges Bank acquired a new position in Alight during the second quarter worth $28,596,000. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Alight during the third quarter worth $10,232,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.