The stock of Alight Inc. (NYSE:ALIT) increased by $0.25 on Tuesday to at $7.91, up 3.33 percent. The last five days have seen an average of 1,559,044 shares of common stock traded. 16 times new highs were reached in the current year, with a fall of -$0.48. The average number of shares traded over the last 20 days was 3,160,611, while the average volume over the last 50 days totaled 2,467,924.
ALIT stock dropped -19.07% since last month. On 08/25/23, the company’s shares reached a one-month low of $7.50. The stock touched a high of $10.19 on 02/22/23, after rallying from a low of $7.01 in 52 weeks. The price of ALIT stock has declined by -5.32% or -$0.48 this year, reaching a new high 16 times. Still, the stock price is down -22.29% from the 52-week high.
Insider Transactions
ALIT stock investors should be aware that Alight Inc. (ALIT) stock had its last reported insider trading activity 7 days ago on Aug 22. On Aug 22, 10% Owner Blackstone Holdings I/II GP L. sold 14,704,603 shares at $7.98 each. This transaction resulted in the insider making $117,342,732. On Aug 22, Blackstone Management Associat sold 14,704,603 shares at a price of US$7.98. After the transaction, the insider now owns 43,602 shares. 10% Owner BX Tempo ML Holdco 1 L.P. had earlier sold 14,704,603 shares on Aug 22 for $7.98 a share. The transaction was completed for $117,342,732.
Valuation Metrics
Beta for the stock is 0.82. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.31, the price-to-book (PB) ratio of 0.86, and the price-to-cash flow ratio of 25.44.
Financial Health
For the three months ended June 29, Alight Inc.’s quick ratio was 1.20, while its current ratio was 1.20, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.62, and the total debt to equity ratio is 0.63. As far as profitability goes, gross margin for the trailing twelve months is 32.10% percent. Alight Inc.’s EBITDA margin for the year ended June 29 was 12.96%, whereas its operating margin stood at -0.70% for the same period. Based on annual data, it had gross profit of $996.0 million and revenue of $3.13 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ALIT’s return on assets (ROA) during the last 12 months has been -2.20%. There was a -0.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -5.30%.
Earnings Surprise
According to Alight Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $785.0 million, while revenues rose by 10.57% to $812.0 million. It was predicted that Alight Inc.’s quarterly earnings would be $0.14, but it ended up being $0.12, beating the consensus by 16.70%. EBITDA was $85.0 million for the quarter. At the end of Alight Inc.’s most recent quarter ended June 29, its liabilities totaled 5.82 billion, while its total debt was $2.97 billion. Equity owned by shareholders amounts to $557.27 million.
Technical Picture
Here’s a quick look at Alight Inc.’s (ALIT) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 39.19%, suggesting the stock is Neutral, with a 33.43% historical volatility rate.
The stochastic %K and %D were 17.59% and 10.53% respectively, while the average true range (ATR) was 0.21. Based on the 14-day stochastic reading of 29.92%, the RSI (14) reading is 35.08%. On the 9-day MACD Oscillator, the stock is at 0.04, and the 14-day reading is at -0.22.
Analyst Ratings
In its analyst report released on June 13, 2023, Citigroup began covering Alight Inc. (NYSE: ALIT). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Alight Inc. (ALIT) an Buy rating. ALIT is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 8 others recommend it as a buy.
What is ALIT’s price target for the next 12 months?
The current consensus forecast for the stock is between $12.00 and $15.00, with a median target price of $12.50. In analyzing these forecasts, the average price target given by analysts for Alight Inc. (ALIT) is $12.88.
