Alight, Inc. $ALIT Stock Position Increased by Clearline Capital LP

Key Points

• Clearline Capital LP increased its stake in Alight, Inc. by 3.3%, now holding approximately $29.88 million worth of shares, making it the firm's 5th largest holding.
• Alight has recently reported earnings of $0.10 per share, meeting analysts' expectations, while setting guidance for FY 2025 at 0.580-0.640 EPS.
• The company also declared a quarterly dividend of $0.04 per share, representing a 4.2% dividend yield, with the payment scheduled for September 15th.

Clearline Capital LP grew its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 3.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,038,659 shares of the company's stock after purchasing an additional 162,732 shares during the period. Alight makes up about 1.8% of Clearline Capital LP's portfolio, making the stock its 5th biggest position. Clearline Capital LP owned about 0.93% of Alight worth $29,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ALIT. Starboard Value LP lifted its stake in shares of Alight by 8.8% during the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock worth $326,818,000 after acquiring an additional 3,833,000 shares during the last quarter. J. Goldman & Co LP lifted its stake in shares of Alight by 105.3% during the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock worth $39,960,000 after acquiring an additional 2,961,443 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Alight by 50.4% during the 1st quarter. American Century Companies Inc. now owns 6,920,646 shares of the company's stock worth $41,039,000 after acquiring an additional 2,319,685 shares during the last quarter. Nuveen LLC bought a new stake in shares of Alight during the 1st quarter worth approximately $11,707,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Alight by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company's stock worth $146,173,000 after acquiring an additional 1,930,440 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Stock Down 2.5%

ALIT stock traded down $0.10 on Friday, hitting $3.68. 4,118,975 shares of the company's stock were exchanged, compared to its average volume of 7,501,485. Alight, Inc. has a 12-month low of $3.55 and a 12-month high of $8.93. The firm has a 50 day moving average price of $4.58 and a two-hundred day moving average price of $5.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $1.98 billion, a P/E ratio of -1.66 and a beta of 1.01.

Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, hitting 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 firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $525.26 million. During the same period in the previous year, the business earned $0.05 EPS. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, equities research analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, September 2nd. Alight's payout ratio is -7.24%.

Wall Street Analyst Weigh In

ALIT has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price target on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Wedbush decreased their target price on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Finally, UBS Group decreased their target price on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Alight has an average rating of "Buy" and an average price target of $8.75.

Alight Profile

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.