Alight (NYSE:ALIT) Reaches New 12-Month Low at $6.15

Alight, Inc. (NYSE:ALIT)’s share price hit a new 52-week low on Tuesday . The company traded as low as $6.15 and last traded at $6.34, with a volume of 1341989 shares. The stock had previously closed at $6.90.

Wall Street Analysts Forecast Growth

ALIT has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Alight in a research note on Monday, July 1st. KeyCorp reduced their price objective on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Wedbush reduced their price objective on shares of Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Bank of America cut their target price on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Finally, DA Davidson reiterated a “buy” rating and set a $12.00 target price on shares of Alight in a research note on Thursday, June 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.61.

Alight Trading Down 3.5 %

The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -11.13, a PEG ratio of 1.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.57 and a current ratio of 1.57. The company’s 50 day moving average is $7.35 and its 200 day moving average is $8.44.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $832.41 million. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. On average, research analysts forecast that Alight, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at Alight

In other Alight news, COO Katie J. Rooney sold 47,851 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $7.11, for a total value of $340,220.61. Following the sale, the chief operating officer now owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

Several large investors have recently made changes to their positions in ALIT. Arizona State Retirement System grew its holdings in shares of Alight by 5.6% in the 4th quarter. Arizona State Retirement System now owns 97,284 shares of the company’s stock worth $830,000 after purchasing an additional 5,180 shares during the last quarter. Strs Ohio grew its holdings in shares of Alight by 30.6% in the 4th quarter. Strs Ohio now owns 24,300 shares of the company’s stock worth $207,000 after purchasing an additional 5,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Alight by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,077 shares of the company’s stock worth $512,000 after purchasing an additional 4,892 shares during the last quarter. River Road Asset Management LLC grew its holdings in shares of Alight by 2.9% in the 4th quarter. River Road Asset Management LLC now owns 9,360,406 shares of the company’s stock worth $79,844,000 after purchasing an additional 263,242 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Alight by 5.7% in the 4th quarter. Xponance Inc. now owns 25,035 shares of the company’s stock worth $214,000 after purchasing an additional 1,353 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

About Alight

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.