Alight, Inc. $ALIT Shares Sold by Empyrean Capital Partners LP

Key Points

• Empyrean Capital Partners LP reduced its stake in Alight, Inc. by 16.7%, now holding 7.5 million shares, which constitutes 1.6% of their portfolio.
• Several other institutional investors have increased their positions in Alight, with Ameriprise Financial increasing its stake by 18.9% during the fourth quarter.
• Analyst ratings for Alight have seen a downward revision, with UBS lowering the price target from $10.00 to $6.50, while the stock maintains an average "Buy" rating with a consensus target price of $8.75.

Empyrean Capital Partners LP cut its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 16.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,500,000 shares of the company's stock after selling 1,500,000 shares during the quarter. Alight accounts for approximately 1.6% of Empyrean Capital Partners LP's holdings, making the stock its 16th largest position. Empyrean Capital Partners LP owned approximately 1.38% of Alight worth $44,475,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its position in Alight by 53.7% in the first quarter. EP Wealth Advisors LLC now owns 40,678 shares of the company's stock worth $241,000 after buying an additional 14,214 shares in the last quarter. Maverick Capital Ltd. lifted its holdings in shares of Alight by 162.9% in the 1st quarter. Maverick Capital Ltd. now owns 110,164 shares of the company's stock valued at $653,000 after acquiring an additional 68,256 shares during the last quarter. Royal Bank of Canada raised its position in Alight by 3.6% in the 1st quarter. Royal Bank of Canada now owns 159,901 shares of the company's stock worth $948,000 after purchasing an additional 5,525 shares during the period. Alpine Global Management LLC increased its position in shares of Alight by 8.7% during the first quarter. Alpine Global Management LLC now owns 190,219 shares of the company's stock worth $1,128,000 after acquiring an additional 15,219 shares during the period. Finally, Palogic Value Management L.P. increased its holdings in Alight by 11.9% during the first quarter. Palogic Value Management L.P. now owns 470,000 shares of the company's stock valued at $2,787,000 after buying an additional 50,000 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Price Performance

NYSE ALIT traded down $0.06 during trading hours on Friday, hitting $3.77. 6,305,572 shares of the company's stock traded hands, compared to its average volume of 8,605,686. Alight, Inc. has a 52-week low of $3.62 and a 52-week high of $8.93. The company has a market capitalization of $2.03 billion, a PE ratio of -1.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16. The firm's 50-day moving average is $4.80 and its 200-day moving average is $5.35.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The company had revenue of $528.00 million during the quarter, compared to analysts' expectations of $525.26 million. During the same quarter in the prior year, the company earned $0.05 EPS. Alight's revenue 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 forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.16 annualized dividend and a dividend yield of 4.2%. Alight's dividend payout ratio is -7.24%.

Analyst Upgrades and Downgrades

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

Alight Company 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.