Alight, Inc. (NYSE:ALIT) Stock Position Lowered by Ionic Capital Management LLC

Ionic Capital Management LLC trimmed its position in shares of Alight, Inc. (NYSE:ALIT) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,288,066 shares of the company’s stock after selling 5,000 shares during the period. Alight accounts for approximately 1.7% of Ionic Capital Management LLC’s holdings, making the stock its biggest position. Ionic Capital Management LLC owned approximately 0.24% of Alight worth $9,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Alight during the third quarter worth approximately $74,000. FMR LLC boosted its position in shares of Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after acquiring an additional 3,689 shares in the last quarter. KBC Group NV grew its position in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after acquiring an additional 2,331 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its position in shares of Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after purchasing an additional 2,235 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Alight Price Performance

NYSE:ALIT opened at $8.02 on Tuesday. The firm’s fifty day moving average is $7.41 and its two-hundred day moving average is $7.36. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 earnings per share. As a group, equities analysts forecast that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Insider Activity at Alight

In other Alight news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the sale, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Gregory R. Goff sold 250,000 shares of Alight stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the sale, the president now directly owns 852,694 shares of the company’s stock, valued at $6,821,552. This represents a 22.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. Corporate insiders own 5.33% of the company’s stock.

Analysts Set New Price Targets

ALIT has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price target on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC upped their target price on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wedbush reduced their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup decreased their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, KeyCorp boosted their price target on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Alight has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

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.