Glenview Capital Management Sells $71 Million of Alight Stake After Stock's 71% Drop

Company Overview - Alight, Inc. is a technology-driven provider of cloud-based human capital and business solutions, headquartered in Lincolnshire, Illinois, focusing on integrated platforms for benefits, payroll, and employee wellbeing [6] - The company generates revenue through a mix of recurring employer solutions, consulting, and hosted service contracts, targeting large enterprises seeking to optimize employee wellbeing and payroll processes [9] Financial Performance - Alight's revenue for the trailing twelve months (TTM) is reported at $2.29 billion, while the net income stands at a loss of $2.12 billion [4] - The company's stock price as of December 5, 2025, is $2.08, reflecting a significant decline of 70.8% over the past year, underperforming the S&P 500 by 84.7 percentage points [3][4] Recent Developments - Glenview Capital Management reduced its stake in Alight by approximately 16% during the third quarter, selling 4,004,556 shares and decreasing its exposure by an estimated $71.57 million [1][2] - Following the sale, Alight constituted 1.48% of Glenview's 13F reportable assets under management, down from 3.87% in the previous quarter [3] Market Context - Alight's stock has experienced a significant decline of 71% over the last year, attributed to concerns regarding competition from artificial intelligence systems that may take market share from traditional software companies [12] - Over the past three years, Alight's revenue has declined by 26%, indicating ongoing challenges for the company [13]