Alight, Inc. $ALIT Stock Holdings Lessened by Corsair Capital Management L.P.

Key Points

• Corsair Capital Management L.P. reduced its stake in Alight, Inc. (NYSE:ALIT) by 69.6%, now holding 262,759 shares worth approximately $1.56 million.
• Multiple hedge funds adjusted their positions in Alight, with CWM LLC increasing its stake by 364.8% and GAMMA Investing LLC by a staggering 5,505.8% in the first quarter.
• Alight recently announced a quarterly dividend of $0.04 per share, with a yield of 4.1%, while also meeting EPS estimates at $0.10 for the latest quarter.

Corsair Capital Management L.P. trimmed its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 69.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 262,759 shares of the company's stock after selling 600,669 shares during the quarter. Alight accounts for 0.4% of Corsair Capital Management L.P.'s portfolio, making the stock its 25th largest position. Corsair Capital Management L.P.'s holdings in Alight were worth $1,558,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CWM LLC lifted its position in shares of Alight by 364.8% in the first quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after purchasing an additional 4,006 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after purchasing an additional 2,348 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Alight by 5,505.8% in the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after purchasing an additional 7,653 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock worth $49,000 after purchasing an additional 2,059 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Alight during the first quarter valued at approximately $52,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Trading Down 0.4%

Shares of ALIT stock opened at $3.90 on Friday. Alight, Inc. has a 12 month low of $3.62 and a 12 month high of $8.93. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. The business's 50 day moving average is $5.00 and its two-hundred day moving average is $5.47. The company has a market cap of $2.10 billion, a PE ratio of -1.76 and a beta of 1.00.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $525.26 million. During the same quarter last year, the company posted $0.05 earnings per share. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. Equities analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is -7.24%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ALIT shares. UBS Group cut their price objective on shares of Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wedbush cut their price objective on shares of Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, Needham & Company LLC cut their price objective on shares of Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $8.75.

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.

Want to see what other hedge funds are holding ALIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alight, Inc. (NYSE:ALIT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.