Moore Capital Management LP Purchases 680,000 Shares of Alight, Inc. $ALIT

Moore Capital Management LP grew its holdings in Alight, Inc. (NYSE:ALIT) by 33.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,720,000 shares of the company’s stock after acquiring an additional 680,000 shares during the period. Moore Capital Management LP owned about 0.51% of Alight worth $8,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Strs Ohio bought a new position in Alight in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in shares of Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after buying an additional 3,138 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Alight in the third quarter worth $35,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of Alight in the third quarter worth $37,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Alight during the third quarter worth $37,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson cut their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Wall Street Zen cut shares of Alight from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Bank of America assumed coverage on shares of Alight in a report on Tuesday, February 17th. They set an “underperform” rating and a $1.40 price objective for the company. Needham & Company LLC lowered Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Citigroup cut Alight from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $6.50 to $1.00 in a report on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.56.

Insider Activity at Alight

In related news, CEO Rohit Verma purchased 112,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average price of $0.89 per share, for a total transaction of $99,680.00. Following the completion of the transaction, the chief executive officer owned 1,134,883 shares in the company, valued at approximately $1,010,045.87. The trade was a 10.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.93% of the company’s stock.

Alight Stock Down 13.5%

NYSE ALIT opened at $0.79 on Tuesday. The stock has a 50 day moving average price of $1.30 and a 200-day moving average price of $2.22. Alight, Inc. has a one year low of $0.65 and a one year high of $6.39. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $423.32 million, a P/E ratio of -0.13, a P/E/G ratio of 0.50 and a beta of 1.17.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Alight had a positive return on equity of 9.61% and a negative net margin of 136.91%.The business had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $654.30 million. As a group, equities analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.