Ionic Capital Management LLC Sells 262,995 Shares of Alight, Inc. $ALIT

Key Points

• Ionic Capital Management LLC has reduced its stake in Alight, Inc. by 32.6%, now holding 543,256 shares, making it their 6th biggest holding.
• Alight's recent earnings report revealed a revenue decline of 1.9% year-over-year, with earnings per share meeting analysts' estimates at $0.10.
• The company announced a quarterly dividend of $0.04 per share, reflecting an annualized yield of 4.2%, despite a negative dividend payout ratio.

Ionic Capital Management LLC cut its position in Alight, Inc. (NYSE:ALIT - Free Report) by 32.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 543,256 shares of the company's stock after selling 262,995 shares during the quarter. Alight accounts for 0.4% of Ionic Capital Management LLC's holdings, making the stock its 6th largest holding. Ionic Capital Management LLC owned approximately 0.10% of Alight worth $3,222,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Starboard Value LP grew its stake in shares of Alight by 8.8% in the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock valued at $326,818,000 after buying an additional 3,833,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Alight by 3.8% in the first quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company's stock valued at $251,606,000 after purchasing an additional 1,548,078 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Alight by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company's stock valued at $146,173,000 after purchasing an additional 1,930,440 shares during the period. Janus Henderson Group PLC boosted its holdings in Alight by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 17,624,572 shares of the company's stock valued at $121,961,000 after purchasing an additional 229,466 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Alight by 18.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock valued at $87,686,000 after purchasing an additional 2,015,579 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Down 1.3%

NYSE ALIT traded down $0.05 during trading on Tuesday, reaching $3.70. 5,156,489 shares of the company's stock were exchanged, compared to its average volume of 8,058,480. The stock has a market cap of $2.00 billion, a P/E ratio of -1.67 and a beta of 1.02. 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 company has a 50 day moving average price of $4.76 and a two-hundred day moving average price of $5.31. Alight, Inc. has a 1 year low of $3.62 and a 1 year high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10. The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.Alight's revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, equities research analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.3%. Alight's payout ratio is -7.24%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALIT. Wedbush decreased their target price on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Needham & Company LLC decreased their target price on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a 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 report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus 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.