Cooper Creek Partners Management LLC Cuts Stock Holdings in Alight, Inc. $ALIT

Cooper Creek Partners Management LLC lessened its position in shares of Alight, Inc. (NYSE:ALIT) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,981,027 shares of the company’s stock after selling 1,774,481 shares during the period. Alight comprises 3.2% of Cooper Creek Partners Management LLC’s holdings, making the stock its 8th largest position. Cooper Creek Partners Management LLC’s holdings in Alight were worth $101,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC acquired a new position in shares of Alight during the second quarter worth about $489,000. Gabelli Funds LLC lifted its stake in Alight by 199.9% in the 2nd quarter. Gabelli Funds LLC now owns 408,918 shares of the company’s stock valued at $2,314,000 after acquiring an additional 272,568 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Alight during the 2nd quarter worth approximately $1,389,000. Jump Financial LLC bought a new position in shares of Alight during the 2nd quarter worth approximately $4,120,000. Finally, First Trust Advisors LP grew its stake in shares of Alight by 25.2% during the 2nd quarter. First Trust Advisors LP now owns 227,889 shares of the company’s stock worth $1,290,000 after acquiring an additional 45,810 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Activity at Alight

In other Alight news, Director Robert A. Schriesheim purchased 42,098 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired at an average price of $2.38 per share, for a total transaction of $100,193.24. Following the purchase, the director owned 109,130 shares in the company, valued at approximately $259,729.40. The trade was a 62.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kausik Rajgopal acquired 40,000 shares of Alight stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $2.24 per share, with a total value of $89,600.00. Following the completion of the transaction, the director owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 193,116 shares of company stock worth $448,984. Company insiders own 1.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Wedbush lowered their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. DA Davidson restated a “buy” rating and set a $6.00 price objective on shares of Alight in a research note on Tuesday, November 25th. Finally, UBS Group dropped their target price on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.25.

Alight Stock Performance

Shares of ALIT opened at $2.04 on Friday. The company has a market cap of $1.09 billion, a PE ratio of -0.50 and a beta of 1.09. The firm has a 50-day moving average of $2.67 and a 200-day moving average of $4.03. Alight, Inc. has a one year low of $1.89 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21.

Alight (NYSE:ALIT) last issued its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The firm had revenue of $533.00 million during the quarter, compared to the consensus estimate of $539.43 million. During the same period in the previous year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, equities analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 7.8%. Alight’s payout ratio is presently -3.91%.

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.