Ionic Capital Management LLC Cuts Stock Position in 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 reduced its position in Alight, Inc. (NYSE:ALIT - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 543,256 shares of the company's stock after selling 262,995 shares during the period. Alight comprises about 0.4% of Ionic Capital Management LLC's holdings, making the stock its 6th largest position. Ionic Capital Management LLC owned approximately 0.10% of Alight worth $3,222,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Starboard Value LP increased 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 purchasing an additional 3,833,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Alight by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company's stock worth $251,606,000 after purchasing an additional 1,548,078 shares during the last quarter. Dimensional Fund Advisors LP increased 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 purchasing an additional 1,930,440 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Alight by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 17,624,572 shares of the company's stock worth $121,961,000 after purchasing an additional 229,466 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Alight by 18.9% during the 4th quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock worth $87,686,000 after purchasing an additional 2,015,579 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Alight Stock Performance

Alight stock traded down $0.10 on Wednesday, hitting $3.62. The company's stock had a trading volume of 2,755,728 shares, compared to its average volume of 8,025,543. The firm has a market cap of $1.95 billion, a P/E ratio of -1.64 and a beta of 1.01. 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 company has a fifty day moving average price of $4.72 and a 200-day moving average price of $5.30. Alight, Inc. has a one year low of $3.60 and a one year high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last issued its 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. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The business had revenue of $528.00 million during the quarter, compared to analysts' expectations of $525.26 million. During the same period in the prior year, the firm posted $0.05 EPS. Alight's quarterly 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. On average, equities analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current 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 paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is -7.24%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALIT. 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 report on Wednesday, August 6th. 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 note on Wednesday, August 6th. Finally, Wedbush decreased their target price on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus 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.