Kingdon Capital Management L.L.C. Has $3.85 Million Stock Holdings in Alight, Inc. $ALIT

Key Points

• Kingdon Capital Management L.L.C. reduced its stake in Alight, Inc. by 25.7%, selling 225,000 shares and now holding approximately 650,000 shares worth $3.85 million.
• Alight announced a quarterly dividend of $0.04 per share, representing an annualized yield of 4.1%, with the payment date set for September 15th.
• Despite a negative net margin of 50.37%, Alight reported earnings meeting estimates at $0.10 EPS for the last quarter, with projected FY 2025 guidance set between $0.580-0.640 EPS.

Kingdon Capital Management L.L.C. lessened its position in Alight, Inc. (NYSE:ALIT - Free Report) by 25.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 650,000 shares of the company's stock after selling 225,000 shares during the quarter. Kingdon Capital Management L.L.C. owned approximately 0.12% of Alight worth $3,854,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp raised its position in Alight by 5.7% in the 4th quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock valued at $28,426,000 after buying an additional 222,725 shares during the last quarter. Starboard Value LP raised its position in Alight by 8.8% in the 4th 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 during the last quarter. Teacher Retirement System of Texas acquired a new stake in Alight in the 1st quarter valued at approximately $428,000. Charles Schwab Investment Management Inc. raised its position in Alight by 9.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,936,028 shares of the company's stock valued at $35,201,000 after buying an additional 506,666 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake 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 in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wedbush dropped their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. UBS Group decreased their target price 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. Finally, Needham & Company LLC decreased their target price on shares of Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $8.75.

Alight Stock Performance

Shares of NYSE ALIT traded down $0.02 during midday trading on Wednesday, hitting $3.92. 7,550,012 shares of the company's stock were exchanged, compared to its average volume of 8,088,860. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. Alight, Inc. has a 12 month low of $3.62 and a 12 month high of $8.93. The company's 50 day moving average price is $4.90 and its 200 day moving average price is $5.41. The firm has a market capitalization of $2.11 billion, a PE ratio of -1.77 and a beta of 1.01.

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

Alight Announces Dividend

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

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.