Alight, Inc. (NYSE:ALIT) is Ionic Capital Management LLC’s Largest Position

Ionic Capital Management LLC reduced its position in shares of Alight, Inc. (NYSE:ALIT) by 0.4% during the 3rd 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 quarter. Alight comprises about 1.7% of Ionic Capital Management LLC’s portfolio, making the stock its biggest position. Ionic Capital Management LLC’s holdings in Alight were worth $9,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Alight by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 224,584 shares of the company’s stock valued at $2,213,000 after purchasing an additional 15,287 shares in the last quarter. Cetera Advisors LLC purchased a new stake in Alight in the 1st quarter valued at approximately $571,000. Wedge Capital Management L L P NC raised its holdings in Alight by 15.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock valued at $4,314,000 after acquiring an additional 76,485 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Alight by 100.9% during the second quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock worth $26,385,000 after purchasing an additional 1,795,830 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALIT has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Needham & Company LLC increased 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. Citigroup lowered their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Canaccord Genuity Group raised their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Alight Trading Up 0.7 %

NYSE ALIT opened at $8.02 on Tuesday. The business has a 50 day moving average price of $7.41 and a 200-day moving average price of $7.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38.

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

Alight Announces Dividend

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

Insider Activity at Alight

In related news, President Gregory R. Goff sold 250,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the sale, the president now owns 852,694 shares in the company, valued at $6,821,552. This represents a 22.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is owned by corporate insiders.

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.