Ionic Capital Management LLC Reduces Position in Alight, Inc. (NYSE:ALIT)

Ionic Capital Management LLC lessened its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 37.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 806,251 shares of the company's stock after selling 481,815 shares during the quarter. Alight makes up approximately 0.6% of Ionic Capital Management LLC's investment portfolio, making the stock its 2nd largest position. Ionic Capital Management LLC owned 0.15% of Alight worth $5,579,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after acquiring an additional 1,729 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Alight in the fourth quarter worth $50,000. Headlands Technologies LLC acquired a new stake in Alight in the fourth quarter valued at $84,000. Sterling Capital Management LLC raised its position in Alight by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 13,224 shares of the company's stock worth $92,000 after purchasing an additional 11,783 shares during the last quarter. Finally, Winslow Asset Management Inc. acquired a new position in Alight during the 4th quarter worth about $93,000. Institutional investors own 96.74% of the company's stock.

Insider Activity

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Massey purchased 100,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the purchase, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This represents a 6.79% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 125,092 shares of company stock worth $807,755. Company insiders own 5.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ALIT shares. Wedbush lowered their price objective on Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Needham & Company LLC restated a "buy" rating and set a $9.00 price target on shares of Alight in a report on Monday, March 24th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alight presently has an average rating of "Moderate Buy" and a consensus price target of $9.94.

Alight Trading Up 0.4%

ALIT traded up $0.03 during trading on Friday, hitting $5.78. The company's stock had a trading volume of 7,026,055 shares, compared to its average volume of 6,309,849. The firm has a market capitalization of $3.14 billion, a P/E ratio of -19.25 and a beta of 0.99. Alight, Inc. has a twelve month low of $4.49 and a twelve month high of $8.93. The stock's fifty day moving average price is $5.50 and its 200-day moving average price is $6.52. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. Analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 annualized dividend and a dividend yield of 2.77%. Alight's dividend payout ratio is currently -114.29%.

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.